By Faridat Salifu
In a landmark achievement for Nigeria’s oil and gas industry, Oriental Energy Resources Ltd. has inaugurated a $315 million Floating Production, Storage, and Offloading (FPSO) vessel, marking the first time such a facility has been fully funded by a Nigerian company.
The event, held recently in Dubai, United Arab Emirates, underscores Nigeria’s growing capacity to independently manage and expand its hydrocarbon resources.
The FPSO vessel, named ENEM FPSO, is set to play a pivotal role in Nigeria’s oil production, with a storage capacity of one million barrels and an initial daily production target of 17,000 barrels, which is expected to rise to 30,000 barrels.
The facility will be deployed to the Okwok Oil Field in the first half of 2025.
Speaking at the inauguration, Vice President Kashim Shettima, representing President Bola Tinubu, hailed the development as a testament to the transformative reforms underway in Nigeria’s oil sector.
He emphasized the vessel’s significance in advancing Nigeria’s ambition to become a central hub for hydrocarbon production and demand.
“This FPSO is more than a technological achievement; it is a symbol of Nigeria’s commitment to meeting global energy needs while driving domestic economic growth,” Shettima said.
The Vice President highlighted how initiatives like this support the administration’s broader economic revitalization agenda, which includes enhancing local refinery operations and reducing dependency on imports.
“This FPSO represents a future where Nigerian enterprises lead in global energy markets, creating jobs and driving economic growth,” Shettima said.
The event celebrated the vision of Alhaji Mohammed Indimi, the Executive Chairman of Oriental Energy Resources, whose leadership and investment in the oil and gas sector have been pivotal.
Indimi’s initiative reflects a shift toward increased local participation in a sector historically dominated by international companies.
“This project is a milestone not only for Oriental Energy but for Nigeria as a whole. It showcases what is possible when Nigerian ingenuity meets global standards,” Indimi said.
He added that the Okwok Oil Field’s full-capacity production of 30,000 barrels per day would significantly boost Nigeria’s oil output and contribute to energy security.
Indimi also revealed plans to increase production across other assets, aiming to deliver 100,000 barrels of oil per day in the near future.
Governors and stakeholders present at the event lauded Indimi’s contributions. Governor Babagana Zulum of Borno State described the development as a source of pride and a driver of economic growth for Nigeria.
“This vessel is proof of Alhaji Indimi’s unwavering commitment to national development and his ability to bring ambitious projects to fruition,” Zulum said.
Governor Abdullahi Sule of Nasarawa State highlighted the importance of private sector confidence in Nigeria’s economy.
“Indimi’s investment shows his belief in Nigeria’s potential and his dedication to fostering growth within the country,” Sule noted.
Capt. Antolovic Rado, CEO of Drydocks Dubai, praised Oriental Energy’s commitment to operational excellence and sustainability. He noted that the FPSO would contribute significantly to the sustainable development of the Okwok Oil Field and serve as a benchmark for safety and innovation in the region.
As Nigeria prepares to welcome the ENEM FPSO in 2025, stakeholders view the project as a bold step toward achieving self-reliance in oil production, strengthening the nation’s energy security, and solidifying its position as a key player in the global energy market.