Nigerian offshore oil and gas player Oriental Energy Resources unveiled its new 30,000-bpd, USD 315-million FPSO at an inaugural ceremony in Dubai on Saturday.
The vessel will set sail for Nigeria in Q1 2025 and begin production at the Okwok oilfield, located in Oil Mining Lease 67, in H1 2025. The FPSO will initially produce 17,000 bpd, which will eventually increase to its full capacity of 30,000 bpd. The FPSO has a total storage capacity of 1 million barrels.
Oriental Energy’s vice-president Kashim Shettima said, “This FPSO vessel is more than just a technological achievement; it is a symbol of Nigeria’s ambition and our readiness to meet global energy demands. Under President Tinubu’s leadership, we are witnessing the transformation of the oil and gas sector, which is central to our economic revitalisation efforts.”
The FPSO is the first entirely funded by an indigenous Nigerian company, showcasing the increasing capacities of local companies within the country’s oil and gas sector.
Source: theenergyyear.com