Vice-President Kashim Shettima has reaffirmed Federal Government’s support for initiatives aimed at expanding Nigeria’s hydrocarbon exploration, storage and refining.
Shettima, who represented President Bola Tinubu, said this at the inauguration of 315 million dollars Floating Production, Storage and Offloading (FPSO) vessel on Saturday in Dubai, United Arab Emirates.
The News Agency of Nigeria (NAN) reports that the vessel is owned by Nigeria’s Oriental Energy Resources Ltd.
The FPSO vessel, with a storage capacity of one million barrels, will kick off with an initial production of 17,000 barrels per day before increasing its production capacity to 30,000 per day.
It is expected to depart for Nigeria in Q1 2025 and start production at the Okwok Oil Field in the first half of 2025.
Shettima noted that the FPSO vessel symbolised a future where Nigerian ingenuity met global standards,…
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