Nigeria’s Vice President,Kashim Shettima has commissioned Nigeria’s Oriental Energy Resources Limited’s $315 million Floating Production, Storage and Offloading (FPSO) vessel to boost Nigeria’s oil production capacity.
Commissioning the oil facility at the Drydocks World Dubai Shipyard in Dubai, the United Arab Emirates on Saturday, Shettima pointed out that what sets Nigerians apart is not merely their audacity of ambition but their unique understanding of where the world is headed.
Describing the facility as a major leap for President Bola Tinubu’s oil sector reforms, Shettima said that the facility was more than just a maritime infrastructure project, but a pointer to the success of President Tinubu’s reforms in the sector and to Nigeria’s growing global influence.
In a press statement signed by Stanley Nkwocha, Senior Special Assistant to the Nigerian President on Media & Communications, 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.”
According to him, the vessel is a critical link in Nigeria’s ambition to optimise productivity, enabling the country to become a central hub for hydrocarbon demand, both domestically and globally.
He lauded Muhammadu Indimi, the Executive Chairman of Oriental Energy Resources Limited, for his remarkable contributions to the industry.
“Over the decades, Muhammadu Indimi has stood as a model businessman and symbol of excellence in the oil and gas industry. So, it’s not surprising that his vision has transformed Oriental Energy Resources Limited into a global phenomenon,” he said.
According to him, the UAE demonstrates what can be achieved when natural resources are leveraged effectively, just as he reaffirmed the Nigerian government’s support for transformative initiatives “which align with Nigeria’s vision for expanding hydrocarbon exploration, storage, and refining.
“This FPSO vessel symbolises a future where Nigerian ingenuity meets global standards, and we will be here every step of the way to ensure its utility and success,” he added.
Earlier, while welcoming the Vice President and his entourage at the event, the Chairman/CEO of Oriental Energy Resources Ltd, Indimi revealed that the facility is the first FPSO to be fully funded by a Nigerian indigenous company.
The vessel named ENEM FPSO, the chairman added, has heralded an effort for an indigenous Nigerian oil and gas company to independently develop a marginal field, stressing that it is an important milestone for Nigeria and its indigenous oil and gas sector.
“When operating at full capacity we expect the Okwok Oil Field to produce up to 30,000 barrels of oil a day, significantly enhancing Nigeria’s oil production and contributing to the government’s ambition to increase oil revenue to fund Nigeria’s development.
“The Okwok field is just one step towards our long term ambition to deliver 100,000 barrels of oil per day of production in Nigeria. We have a strong set of proven assets, and a development pipeline that can deliver it.
“I want to take this opportunity to thank the Nigerian government; His Excellency, President Bola Ahmed Tinubu; His Excellency Vice President Kashim Shettima, and the dedicated officials and civil servants in the Ministry of Petroleum Resources, NURPC and the other agencies that have provided the enabling environment for this investment”.
In his own remarks, the Chief Executive Officer of Drydocks Dubai , Capt. Dr. Antolovic Rado, assured that the vessel, when fully operational, will contribute significantly to the sustainable development of the Okwok oil field region and would support economic growth and energy security.
He noted that the success achieved by Oriental Energy’s huge investment in the oil sector, has set a benchmark for operational excellence and safety to Oriental Energy Resources Limited and other partners.
GIK/APA