Nigeria is set to boost its oil production capacity with the unveiling of a $315 million Floating Production, Storage and Offloading (FPSO) vessel. The vessel, named ENEM FPSO, has a storage capacity of one million barrels and is expected to produce 17,000 barrels per day initially, increasing to 30,000 bpd.
Commissioned by Vice President Kashim Shettima at the Drydocks World Dubai Shipyard in Dubai, the vessel is a significant milestone for Nigeria’s oil and gas sector. It’s also a testament to the success of President Bola Ahmed Tinubu’s reforms in the sector.
Key Highlights:
- Production Capacity: 17,000 barrels per day initially, increasing to 30,000 bpd
- Storage Capacity: One million barrels
- Departure and Commencement: Expected to depart for Nigeria in Q1 2025 and commence production at the Okwok Oil Field in the first half of 2025
- Investment: $315 million
- Significance: First FPSO to be fully funded by a Nigerian indigenous company
The vessel is expected to contribute significantly to Nigeria’s economic growth and energy security. It’s also a symbol of Nigeria’s ambition and readiness to meet global energy demands
