Boosting Oil Production: Nigeria’s FPSO Facility Makes Strides in Lagos

The Nigerian government is taking significant steps to increase the country’s crude oil production, with a key player in this effort being the Floating Production Storage and Offloading (FPSO) facility in Lagos. The facility, a joint venture between NNPC Limited and Century Nigeria Limited, in partnership with WAEP and ENSERV, is making steady progress towards boosting Nigeria’s crude oil production by an additional 40,000 barrels per day (bpd).

During an inspection visit to the site, Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, expressed satisfaction with the progress made, highlighting the facility’s potential to increase oil production and meet global demand. The FPSO project is one of the measures arising from the minister’s engagement with NNPC Limited, aimed at enhancing local capacity and driving further investments into the nation’s oil sector.

“The work being done here is a reflection of the kind of investments we want in the oil sector. With projects like this, we are not only building local capacity but also expanding our crude production beyond current quotas. This facility alone will contribute an additional 40,000 bpd, which is a step in the right direction for our economy,” the minister stated.

The facility’s potential to boost oil production is significant, with the country aiming to increase its output above current levels. The government is committed to supporting partnerships like this FPSO project, which will help revitalize the sector and position Nigeria as a key player in the global energy market.

Ken Edward Etete, Group Chairman of Century Group, provided insights into the project’s progress, citing several upgrades underway and setting targets for various stages of the work. “We are on track to complete everything within the first quarter of next year,” he said, emphasizing that these upgrades will not only enhance operational efficiency but also position the facility as a key contributor to Nigeria’s energy sector.

The minister commended the management team for their dedication to ensuring the project’s timely delivery and urged them to maintain their commitment. He reaffirmed the government’s readiness to support similar initiatives aimed at enhancing Nigeria’s oil production capacity, underscoring the country’s goal of producing well above its current quota.

With this FPSO project, Nigeria is charting a course towards increased oil production and economic growth. As the government continues to support initiatives like this, the country is poised to take its place as a major player in the global energy market.