June 2013
10
CORPORATE DEVELOPMENTS
The discovery of oil deposits in the
Ngamia area of Turkana last year triggered
immense international interest in Kenya as
a potential oil producer.
Suddenly, everyone wanted a piece of
this delicious commercial pie. As oil
exploration intensifies both on land and the
Indian Ocean off the Kenyan coast, huge
opportunities will open up for equipment
and material suppliers.
This includes paint manufacturers,
especially for offshore exploration rigs that
require a protective coating to withstand
aquatic vagaries. The biggest threat to such
rigs, mostly underwater, is corrosion. You
cannot use just any paint on an oil rig.
To counter corrosion, one requires a
coating solution that is designed for
marine application.
One such solution is the Hempel range of
protective and marine products. Hempel
is a leading global brand in marine coating
solutions having been established in
Denmark more than a century ago. Hempel
controls 20 per cent of the global market
for protective and marine coating solutions.
It is also a strong player in the container
paint segment.
Hempel acquired Crown Paints UK
in 2008. Since then, the partnership
between Crown Paints Kenya and Hempel
has been growing.
Crown Paints Kenya Chief Marketing
Officer, John Hadley, says they have
identified a strong opportunity for Hempel
products in the local market.
He added that with the increased
activity by international oil exploration
companies in the region, there is certain
to be increased demand for Hempel
products. He also cited Kenya’s growing
status and strategic position as the
regional business hub.
Maritime laws require that a ship and
other sea-going vessels are re-painted
every two years. They have to be dry-
docked during that time to adhere to
Lloyd’s insurance rating.
“We anticipate increased demand for
marine protective coating solutions as
Kenya’s status as the regional gateway rises
and maritime traffic grows,” said Hadley.
Kenya has also stepped up its offshore oil
exploration efforts and allocated various
blocks to international firms.
The discovery of oil in Northern Kenya has
stirred hope that similar finds may be in the
offing on its continental shelf and promises
good times ahead for Crown Paints.
Crown Paints eyeing oil
and gas sector with Hempel
