In 2005, a young Nigerian left his stable job and embarked on an unpredictable, challenging path of entrepreneurship. He had neither resources nor support, but what he had in abundance was determination, faith in his ability, ambition, and a great vision. After focusing on his business for a little over a year, he decided to work again for someone else. He was not giving up on his business, but he wanted to gain the knowledge and experience needed to establish and run a company in Nigeria’s oil and gas sector.
Once he was confident that he could make his vision come true, he re-entered the world of entrepreneurship. In 2010, he picked up where he had left off. Meet Dr. Osaretin Aibangbe (Doctor of Engineering; Honorary Causa from Prowell University, Delaware USA), the Founder of WellSteer Oilfield Technology Services Limited and its subsidiary, Aibangbe Oilfield Technology Services. He now steers both the companies as the Chief Executive Officer and Chief Technology Officer.
Recap of a Remarkable Professional Journey
Dr. Aibangbe, 53, holds a degree in Electrical/Electronic Engineering from the University of Benin, one of Nigeria’s most prestigious universities. He was among the top graduating students in the faculty of engineering, a university scholar. Following his graduation in 1994, he was recruited by Schlumberger, a global technology company specializing in the energy industry, for their pre-employment NYSC internship scheme. He interned as a Drilling Engineer Trainee at Transocean, then Sedco Forex Schlumberger.
In 1996, Dr. Aibangbe joined Schlumberger full-time. According to him, during his tenure, he traveled to various countries, including the United States, United Kingdom, France, Angola, Gabon, Cameroon, Equatorial Guinea, Congo Brazzaville, and the United Arab Emirates (UAE). This exposure provided him with diverse opportunities and environments in global hydrocarbon exploration and production techniques.
At Schlumberger, Dr. Aibangbe rose through the ranks. He began as a Field Engineer in Nigeria, then advanced to Technical Sales for West and South Africa while based in Gabon. After that, he served as a Technical Instructor at Schlumberger’s headquarters in Sugar Land, Texas, and finally stepped into the role of UAE Operations Manager. In 2004, Dr. Aibangbe left Schlumberger after more than eight years of service. He decided to quit to start his own business, WellSteer Oilfield Technology Services.
When he took the plunge into entrepreneurship, Dr. Aibangbe was 31 years old. He recalls being alone and trying to build a company with just one laptop. After 18 months, he put his business plans on hold and pursued a career opportunity at Halliburton Energy Services Limited, one of the world’s largest providers of products and services to the energy industry. He served in the position of Technical Advisor and Business Development for three and a half years. “The main aim of working at Halliburton was to learn about the Nigerian business environment and build contacts,” Dr. Aibangbe says.
In January 2010, he shifted his focus back to WellSteer Oilfield Technology Services Limited, and for him, there has been no looking back since then. From scratch, he has built a company that sets new standards with its innovative services and solutions.
“As they say, ‘the rest is history,’ and to give God the glory, we are experiencing steady growth and progress,” Dr. Aibangbe says.
About WellSteer Oilfield Technology Services Limited
WellSteer Oilfield is an innovative technology company, operational since 2010. Its core business is to provide offshore and onshore technical services to E&P operators and service companies in areas such as engineering studies, interpretation services, project management, integrated solutions, connected digitalization services, automation and instrumentation control services, training and development, and more.
As an Indigenous company, WellSteer targets the Nigerian market with an emphasis on small and emerging Indigenous E&P companies that have licenses to develop marginal fields in the Niger-Delta region of Nigeria. These companies may not have the necessary technical expertise to carry out detailed engineering studies to optimize these fields.
WellSteer’s services and solutions combine indigenous expertise, best practices, safe and environmentally sound well-site operations, innovative ideas, and high-quality support. All these enable the company to help customers increase oilfield efficiency, lower finding and production costs, improve productivity, and maximize reserve recovery. It also helps increase asset value in a safe, environmentally sound manner.
WellSteer is committed to providing services that enhance and optimize customers’ performance in areas such as:
- Engineering Consultancy: Processing, interpretation, 3D viewing, and integration of E&P data.
- Integrated Solutions: From complete single-well analysis to field development planning.
- Drilling and Fishing Rental Services: Providing drilling and fishing services with the support of partners, enabling customers to achieve their well objectives.
- Connected Oilfield Digitalization services
- Completion Services
- Wellhead Services
- Well Testing Services
- Well Intervention Services
- Connected Well Testing Services
- EPF Services
- Drilling Services
- Training, Recruiting, and Personnel Development: Technical skills training and development spanning E&P operations with key emphasis on drilling and evaluation services/
In 2024, Aibangbe Oilfield Technology Services, a subsidiary of WellSteer Oilfield, was established. It aims to provide innovative information technology services to key oil and gas customers in areas such as Connected Oilfield Digitalization Services, IIoT, remote monitoring, IT security, cloud infrastructure, AI, and more to better manage their oil and gas assets.
Remembering All Who Helped in the Journey
“WellSteer’s history began in 2005 in a modest office space,” Dr. Aibangbe fondly remembers. They registered the company in the same year, and they have been operational since 2010. “We must appreciate everyone that has helped in this journey,” Dr. Aibangbe says.
He recalls his very first industrial training at the Warri refinery, where he was “lucky” to work under Isah Mohammed, who gave him a project to trace the path detailed in a line diagram showing how crude oil enters the FCC Unit and refined petroleum products are produced. “I gained a strong foundation and started from first principles,” Dr. Aibangbe shares. That strong foundation is what he is still applying today in WellSteer’s innovative connected oilfield digitalization services in areas of instrumentation and control systems.
That concept was reinforced during Dr. Aibangbe’s career at Schlumberger, where foundational engineering principles and theoretical physics of tools were very important and key to their technological and superior service advantages. “Within four years, I wrote four SPE international papers as a field engineer, a first in Schlumberger,” he points out.
Dr. Aibangbe also expressed his gratitude to the Nigerian National Petroleum Company Limited (NNPCL), a state-owned oil company in Nigeria. He calls it the “father of Nigerian Oil and Gas.” NNPCL provided Dr. Aibangbe with both opportunities and support. “Thank you NNPCL for making it a Nigerian dream where any young man can grow in a competitive technological business just trusting in God, his abilities, and grits,” he says. “As we look into the future and another 15 years, we are hoping for the continued support.”
A Great Number of Achievements
Dr. Aibangbe is a successful business leader. His journey is all about learning, seizing opportunities, and accomplishing the set objectives. Today, he is also recognized as a leading figure in Nigeria’s gas and oil industry because of his integrity and belief in walking the walk.
Dr. Aibangbe has several achievements to his name. In 2019, he was featured in The Guardian’s Special Focus on Nigeria’s 100 Most Innovative CEOs. Under his leadership, WellSteer received the Best Enterprise Award from the Europe Business Assembly. It was also recognized among the Best Regional Companies and Top Manager Ranking 100. Additionally, Dr. Aibangbe was featured in The Guardian’s Special Focus on the 50 Most Impactful and Award-winning CEOs That Contributed to Nigeria’s GDP Growth in 2021.
