Marine Platforms Expands Fleet with Two High-Capacity Vessels to Boost Nigeria’s Deepwater Capacity

As part of its commitment to strengthening local content in Nigeria’s oil and gas sector, Marine Platforms Limited (MPL) has expanded its offshore fleet with the acquisition of two high-capacity vessels — the HQ1200 and the African Pioneer. The investments significantly enhance the company’s technical capabilities for deepwater operations and position it to play a central role in upcoming mega-projects that could boost Nigeria’s crude oil production.

Strategic Acquisitions for Growth

Speaking to Business Standards at the company’s Victoria Island headquarters in Lagos, Taofik Adegbite, CEO of Marine Platforms, explained the strategic rationale behind the acquisitions.

African Pioneer: A world-class construction and diving support vessel (DSV), acquired under a flexible hire-purchase arrangement to conserve cash and ensure financial sustainability.

HQ1200: A rare pipe-laying vessel — one of only ten of its kind worldwide — purchased through a joint venture in which Marine Platforms holds a 51% controlling stake, while the Chinese partner retains 49%.

“These acquisitions give us the flexibility to deliver complex offshore projects while maintaining financial discipline,” Adegbite noted.

Financial Discipline and Restructuring

Adegbite revealed that the company’s recent vessel strategy was shaped by lessons from the past. MPL had previously sold its flagship African Inspiration for $85 million to settle debts, a move that restored its financial footing.

“To avoid a repeat, we now work closely with banks using charter-and-purchase models. Payments are gradual, and we retain the option to buy outright after three years,” he explained.

Vessel Capabilities and Global Deployment

a. African Pioneer:

• Equipped with a 400-tonne heave-compensated crane, two work-class ROV systems, triple moon pools, and a 24-man twin bell saturation diving spread rated to 300 meters.
• Boasts a 1,400 sq.m deck and accommodation for 140 personnel.
• Recently berthed at Onne Port, Rivers State (June 27, 2025) after sailing from China and undergoing christening in Cape Town.
• Will soon commence life-of-field work with Chevron Nigeria Limited on the Agbami Field.

b. HQ1200: 

• Features a 1,200-tonne crane, enabling it to execute large-scale pipe-laying and subsea construction.
• Certified for deployment in the Nigeria–Morocco Gas Pipeline project during the FEED stage.
• Positioned as a strong contender for future deepwater projects, including Shell’s Bonga Southwest.

With MPL marketing in Europe, America, and the Middle East, and its Chinese partner covering Asia-Pacific, the vessel will serve clients globally.

Global Ambitions: New Dubai Hub

In line with its growing international presence, MPL is preparing to establish an operational office in Dubai, which will serve as its international base for Middle East and global assignments.

“This is part of our long-term strategy to diversify and compete across the entire value chain,” Adegbite said.

Industry Insight and Advice

Adegbite advised Nigerian operators to invest in quality, value-retaining assets.
“Good assets hold their value, even in crisis. The African Inspiration proved this when it sold for $85 million after a decade of service,” he remarked.

He added that as Nigeria’s deepwater prospects expand, indigenous companies must develop the competencies to compete with international oil companies (IOCs).

Contribution to Nigeria’s Oil Output

With Nigeria’s crude production currently hovering above 1.8 million barrels per day, Adegbite emphasized that strengthening local offshore capacity will:

• Save foreign exchange through reduced reliance on foreign-owned vessels.
• Attract more foreign investment.
• Incentivize further drilling and offshore development.
• Increase government revenues to support national development.

“These vessels will not only support IOCs but also enhance Nigeria’s overall production capacity, ensuring the country reaps greater benefits from its deepwater resources,” Adegbite concluded.