Vice President Kashim Shettima on Saturday commissioned the launch of a new Floating Production, Storage and Offloading vessel by Oriental Energy Resources Limited.

The VP represented President Bola Tinubu at the Drydocks World Dubai Shipyard in Dubai, the United Arab Emirates

The vessel, named ENEM FPSO, 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 bpd.

 

The vessel will be deployed to the Okwok Oil Field and is projected to commence operations in the first half of 2025.

According to a statement by the Senior Special Assistant to the President on Media and Communications, Office of the Vice President, Stanley Nkwocha, this development aligns with the president’s efforts to revitalise the nation’s oil and gas sector, as the government aims to optimise production, reduce dependence on foreign imports and generate more revenue.

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.

The VP lauded the Executive Chairman, Oriental Energy Resources Limited, Muhammadu Indimi, for his remarkable contributions to the industry.

He stated, “Over the decades, Alhaji 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.

“This outcome testifies to what is possible when ambition is matched with perseverance and expertise. His journey reminds us that Nigeria is a land of opportunity, and with dedication, there is no limit to what we can achieve.”

 

 

Shettima further explained that as Nigeria’s home-based refineries come alive, vessels like this would be instrumental in maximising the nation’s production capacity and driving economic growth.“Just about two weeks ago, His Excellency, President Bola Ahmed Tinubu, was in Paris, where he oversaw the expansion of one of Nigeria’s indigenous banks into that sphere of the European financial market. That historic moment reflected our collective aspiration as a nation.

“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.

Expressing delight in the project, Borno State Governor, Prof Babagana Zulum, commended Indimi’s vision and tenacity, saying his investment would stimulate economic growth and create job opportunities for many Nigerians, as well as ensure steady growth and development of the nation’s economy.

 

Earlier, while welcoming the VP and his entourage at the event, Indimi revealed that the facility is the first FPSO to be fully funded by a Nigerian indigenous company.He said, “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”.

Other dignitaries present at the commissioning include the CEO, Drydocks Dubai, Antolovic Rado; the Nasarawa State Governor, Abdullahi Sule, among other personalities.