Mkpoikana Udoma
Port Harcourt — In a significant move to enhance crude oil output, Nigeria is set to add 40,000 barrels per day through a new Floating Production Storage and Offloading, FPSO facility, a joint venture between NNPC Limited and Century Nigeria Limited.
The FPSO, currently under construction in Lagos, aims for completion in the first quarter of 2025.
During an inspection of the facility, the Minister of State for Petroleum Resources (Oil) Sen. Heineken Lokpobiri, emphasized the importance of enhancing local capabilities to drive production growth.
Lokpobiri said the initiative aligns with President Bola Ahmed Tinubu’s directive to exceed current output quotas.
“The remarkable progress on the project will soon add 40,000 barrels per day to our national crude production.
“This facility is a clear example of how partnerships can enhance both local expertise and national output, aligning perfectly with our goal of significantly increasing oil production beyond current quota as directed by President Bola Ahmed Tinubu,” the Minister said.
He highlighted that the facility was a “clear example of how partnerships can enhance both local expertise and national output,” showcasing the collaborative effort required to strengthen the energy sector.
Mr. Ken Edward Etete, Chairman of Century Group, assured stakeholders that the various upgrades underway at the facility were on track, with full completion expected by the first quarter of next year.
He added, “This project demonstrates the kind of commitment and collaboration needed to strengthen our energy sector, and we remain supportive of similar efforts to further enhance our production capacity.”
