In an attempt to ensure proper and adequate distribution of petroleum products across the country, First Deepwater Discovery Limited, an indigenous oil and gas firm has stepped up its operations with its recent acquisition of a 7000 metric tonnes capacity light tanker vessel tagged MT Deepwater.

Conducting newsmen round the vessel on the coast of Lagos, the Managing Director of the company, Mr Tunde Babalola said that the vessel which is a major milestone in the history of tanker vessels is the first of its kind in the country because of its young age as it is just fourteen years from the date of manufacture.

Babalola stated further that the vessel is aimed at lighting mother vessels which cannot afford to come to shore for onward delivery to the depots, as even the Petroleum and Pipelines Marketing Company recently complained of the lack of lighter vessels as being the hindrance to smooth and quick evacuation of petroleum products from the mother vessel.

He further stated that the company is also working assiduously to secure another vessel which would not be less than 10,000 metric tonnes capacity to increase its new operational activity which now includes transportation of wet products from mother vessels to various depots. The Managing Director also noted that the vessels would be available for charter services to several companies which may be in need of such services.

"First Deepwater Discovery Limited is aware of the problems occasioned by unavailability of lighter vessels to help transport products from sea to shore and it is in view of this that we have decided that all our vessels when fully operational, would not light up mother tankers for our own products alone, but would also be readily available to serve other companies who may be in need of such services.

"I think it is high time we understood the fact that in the area of petroleum products distribution, the government cannot do it alone and as such, other operators should rally round the government and invest in this part of the sector," he said. Bababola who noted that his company had been in the business for six years running, stated that it has not been easy in a society where the lending rate is so high".