Business News

‘Nigeria to Boost Oil Production with FPSO Project’

The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has said the local upgrade of the FPSO Tamara Nanaye, a Floating Production Storage and Offloading vessel, at the Laudo yard in Apapa, Lagos, will boost the country’s oil production.

The FPSO Tamara Nanaye upgrade was described as the first of its kind in the nation’s history, being a sophisticated project executed entirely within the country, marking the second time in Africa that an FPSO will undergo such modifications, with the first being in South Africa over two decades ago.

Lokpobiri, while inspecting the new components that will transform the FPSO as it gets modified, commended the various stakeholders involved in the project, including the Nigerian National Petroleum Company Limited and its subsidiaries and private sector partners like WAEP Century Group, Dangote Industries, and Access Bank.

“I am highly impressed with what I have seen here today. This is exactly what Nigeria needs at this critical time in our development. Our goal is to boost oil production to over 2 million barrels per day, and this kind of investment in local capacity is a key part of achieving that goal,” he said.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Most Popular

To Top