Nigeria has celebrated the launch of its first locally owned floating production, storage, and offloading (FPSO) vessel, the FPSO Emem, owned by Oriental Energy Resources (OER). This milestone indicates a growing capability among local producers to manage complex offshore developments, traditionally dominated by international oil companies. The FPSO, which underwent conversion at Drydocks World Dubai Shipyard, faced nearly eight months of delays before its sail away ceremony, presided over by Nigerian Minister for Petroleum Resources, Heineken Lokpobiri. The vessel, valued at $315 million, is expected to reach Nigerian waters by December and will be stationed in the Okwok field, aiming to enhance production in the region.
OER aims to achieve a production rate of 30,000 barrels per day from the Okwok field, with the FPSO capable of processing up to 40,000 bpd and storing around 1 million barrels. Initially, it will manage output from five wells, with plans to drill up to 15 wells in an area estimated to contain recoverable reserves of 45 million barrels. This launch aligns with Nigeria’s broader strategy to increase oil output, highlighted by the “Project One Million Barrels” initiative, which has already seen daily crude production rise to approximately 1.83 million barrels.
In addition to the FPSO, Nigeria recently commissioned its first wholly owned Floating Storage and Offloading (FSO) vessel, named Cawthorne, developed by the Nigerian National Petroleum Company (NNPC). With a capacity of 2.2 million barrels, the FSO is expected to enhance crude oil production and transportation in Oil Mining Lease 18 and surrounding areas in Nigeria’s Eastern Niger Delta. This development is also anticipated to reduce reliance on pipelines, which are often targets for oil theft and vandalism, further contributing to the stability of Nigeria’s oil sector.
