By Stella Odueme
The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has commended the progress of work on the Floating Production Storage and 7Offloading (FPSO) facility in Lagos, a joint venture between NNPC Limited and Century Nigeria Limited, in partnership with WAEP and ENSERV.
The Special Assistant, Media and Communication to the Minister, Nneamaka Okafor said in a statement at the weekend that the Minister stated this during an inspection visit to the site.
The statement said the Minister expressed satisfaction with the progress made so far and noted that the facility has the potential to boost Nigeria’s crude oil production by an additional 40,000 barrels per day (bpd).
According to statement, the FPSO project is one of the measures arising from the Minister’s engagement with NNPC Limited, in line with President Bola Ahmed Tinubu’s directive for increased production, and that it is strategically designed to enhance local capacity and drive further investments into the nation’s oil sector.
The Minister hailed the partnership between NNPC, Century Group, and other partners, identifying the project as a critical element in Nigeria’s efforts to increase crude production and meet global demand.
“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.
“Our goal is to see Nigeria produce well above its current quota, and this project exemplifies the kind of investments that will help us achieve that,” Senator Lokpobiri stated.
Mr. Ken Edward Etetewho spoke on behalf of the Chairman of Century Group, highlighted the progress of the project.
“We have several upgrades ongoing at the FPSO facility, and we are setting targets for various stages of the work. We are on track to complete everything within the first quarter of next year,” he said.
