The Managing Director of Calaya Engineering Services Limited, now Calaya Group, Tony Osuagwu has pointed out that funding is one of the major challenges facing oil and gas operations in Nigeria. He made this disclosure during the 2022 edition of oil and gas exhibition held in Abuja, Nigeria

He explained that banks do not easily fund some big oil and gas contracts because they normally ask for a number of conditions which are not always available to some operators, mostly upcoming SMES.

He said that most of the contract by IOCs has agreement to pay after sixteen to thirty days, but sometimes it takes up to two years for such payment to be effected.

On his organization’s mission at the exhibition, he stated that they were at the event to showcase different kinds of technology Calaya Group has which they have been deploying to the services they give to their customers. His word; “We are here to showcase different kinds of technology we have come with, which we are at the same time deploying to a good number of our clients, within and outside Nigeria”.

He asserted that the kind of technology Calaya Group went to the exhibition was reliable and cost effective. He said that it is the kind of technology that one needs to predict the next action he would take. He explained that it is different from the random activities that have been around.

 Calaya Group, Osuagwu said, has its corporate headquarters in the UK. It has offices in Nigeria, Spain, Equatorial Guinea, Congo and Ghana.

Osuagwu posited that the company has been in the oil and gas industry for the past 15years. He proudly said that his organization has contributed immensely to the development of oil and gas in Nigeria. “We have really contributed seriously both in human capital development and at the same time adding value to the economy of the country”, he said.

Among the things they showcased at the event were Online Calibration, 3D Corrosion Mapping, Wellhead/Xmass Tree Valve Leak Sealing, e.t.c.