Nigeria’s oil industry has marked a major milestone with the unveiling of a $315 million Floating Production, Storage, and Offloading (FPSO) vessel aimed at enhancing the country’s crude oil output.
The vessel, named ENEM FPSO, was launched at Drydocks World Dubai Shipyard and is set to increase Nigeria’s daily oil production from 17,000 to 30,000 barrels per day.
Vice President Kashim Shettima, who represented President Bola Tinubu at the ceremony, noted the project’s significance as a symbol of Nigeria’s growing global influence and a testament to the ongoing transformation of the oil and gas sector. “This FPSO is more than just a technological achievement; it is a symbol of Nigeria’s ambition,” Shettima said.
In a statement issued by Senior Special Assistant to the President on Media and Communications, Office of the Vice President, Stanley Nkwocha, Shettima on Saturday, the vessel is scheduled to depart for Nigeria in early 2025, the ENEM FPSO will operate at the Okwok Oil Field, with a storage capacity of one million barrels.
The project marks a historic achievement as the first FPSO fully funded by a Nigerian indigenous company, Oriental Energy Resources Limited.
The company’s chairman, Alhaji Muhammadu Indimi, expressed confidence in the vessel’s potential to contribute to Nigeria’s long-term goal of reaching 100,000 barrels per day.
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