BY AKUDORO GLORIA
Vice-President Kashim Shettima has restated Federal Government’s support for initiatives aimed at expanding Nigeria’s hydrocarbon exploration, storage and refining.
Shettima, who represented President Bola Tinubu, gave the assurance at the inauguration of $315 million Floating Production, Storage and Offloading (FPSO) vessel on Saturday in Dubai, United Arab Emirates.
The vessel is owned by Nigeria’s Oriental Energy Resources Ltd.
The FPSO vessel, with a storage capacity of one million barrels, will kick off with an initial production of 17,000 barrels per day before increasing its production capacity to 30,000 per day.
It is expected to depart for Nigeria in Q1 2025 and start production at the Okwok Oil Field in the first half of 2025.
The Vice President noted that the FPSO vessel symbolised a future where Nigerian ingenuity met global standards, saying “we will be here every step of the way to ensure its utility and success.”
He described the facility as more than just a maritime infrastructure project, adding that it was a pointer to the success of Tinubu’s reforms in the sector as well as Nigeria’s growing global influence.
He explained that what sets Nigerians apart is not merely the audacity of their ambition, but their unique understanding of where the world is headed.
Shettima commended Alhaji Mohammed Indimi, the Executive Chairman of Oriental Energy Resources Ltd, for his remarkable contributions to the industry.
Governor of Nasarawa State, Engr. Abdullahi Sule lauded Indimi and his technical partners, noting that “to truly appreciate the oil mogul, it will be best to know that he wasn’t the only person that was allocated an oil block in the 90s.
“There were so many of them. But from what we are witnessing today, he will go down as one who believes in Nigeria, who believes in investing in Nigeria, who believes in the government of Nigeria, who appreciates Nigeria.
On his part, Indimi, revealed that the facility was the first FPSO to be fully funded by a Nigerian company.
The vessel named ENEM FPSO, the chairman added, heralded an effort for a Nigerian oil and gas company to independently develop a marginal field. He stressed that it was an important milestone for Nigeria and its 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.
“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,” he said.
The Chairman thanked President Tinubu, Vice-President Shettima, and the dedicated officials and civil servants in the Ministry of Petroleum Resources and the other agencies that provided the enabling environment for the investment.