Vice President Kashim Shettima, on Saturday, commissioned a $315m Floating Production, Storage and Offloading (FPSO) in-constructed Dubai by privately-held Nigeria-owned oil firm, Oriental Energy Resources Shrimp.
In line with a statement by the VP’s spokesman, Stanley Nkwocha, the FPSO, which has a storage capability of 1 million barrels, will kick off with an initial production of 17,000 barrels per day and later develop its production capability to 30,000 bpd.
In line with the statement, the vessel “is expected to proceed for Nigeria in Q1 2025 and launch production at the Okwok Oil Field within the first half of of 2025.”
Shettima who represented President Bola Ahmed Tinubu at the commissioning ceremony of the offshore asset at the Drydocks World Dubai Shipyard in Dubai, the United Arab Emirates, mentioned the facility is larger than correct a maritime infrastructure mission.
He described it as a symbol of nationwide ambition and a testament to the success of President Tinubu’s reforms within the oil sector.
“This FPSO vessel is larger than correct a technological fulfillment; it is a long way a symbol of Nigeria’s ambition and our readiness to fulfill international energy requires. Under President Tinubu’s management, we’re witnessing the transformation of the oil and gasoline sector, which is central to our financial revitalisation efforts,” the Vice President mentioned.
Shettima hailed the Government Chairman of the oil firm, Alhaji Muhammadu Indimi, for his management strides and contributions to the oil and gasoline industry.
“Over the decades, Alhaji Muhammadu Indimi has stood as a mannequin businessman and symbol of excellence within the oil and gasoline industry. So, it’s not ideal that his vision has transformed Oriental Energy Resources Shrimp proper into a international phenomenon.
“This final result testifies to what’s that it is possible you’ll perhaps well perhaps also name to mind when ambition is matched with perseverance and skills. His skedaddle reminds us that Nigeria is a land of opportunity, and with dedication, there just isn’t any limit to what we can raise out.”
Shettima further outlined that as Nigeria’s home-essentially based refineries advance alive, vessels adore this will possible perhaps well perhaps be instrumental in maximising the nation’s production capability and riding financial dispute.
Alhaji Indimi printed that the facility is the first FPSO to be completely funded by a Nigerian indigenous firm.
He further mentioned, “When running at plump capability we put a question to the Okwok Oil Field to blueprint as a lot as 30,000 barrels of oil a day, greatly bettering Nigeria’s oil production and contributing to the government’s ambition to develop oil income to fund Nigeria’s pattern.
“The Okwok self-discipline is correct one step against our prolonged-term ambition to raise 100,000 barrels of oil per day of production in Nigeria. We’ve got a stable region of confirmed sources and a pattern pipeline that will perhaps well raise it.“
What it is possible you’ll perhaps well perhaps also peaceable know
- The FPSO will develop Nigeria’s Crude Production by 17,000 bpd and later by 30,000bpd.
- Nigeria’s oil production in November 2024 used to be 1.4 million bpd, wanting its OPEC quota of 1.5 million bpd.
- While the Organisation of Petroleum Exporting International locations (OPEC) urges most of its contributors to sever abet production in uncover to abet it adjust international oil prices, Nigeria has expressed dedication in increasing its oil production and has region a aim of over 2 million bpd for 2025.
- The vessel is scheduled to proceed for Nigeria in Q1 2025 and originate production at the Okwok Oil Field within the first half of of the year.
The VP used to be accompanied by the governor of his Borno Assert, Professor Babagana Zulum, and Governor Abdullahi Sule of Nasarawa Assert, among other public officers.
