…At full production, Okwok is expected to produce up to 30,000 barrels of oil per day and with our existing production at Ebok
SUN DEC 15 2024-theGBJournal|Oriental Energy Resources (OERL) Saturday conducted the naming of the EMEM Floating Production Storage and Offloading Vessel (FPSO) at the Dry Docks World Dubai Shipyard in the United Arab Emirates.
The naming ceremony was attended by His Excellency Vice President Kashim Shettima GCON, who represented His Excellency President Bola Ahmed Tinubu GCFR, the Founder and Chairman of OERL Dr Muhammadu Indimi OFR and representatives from Drydocks World Dubai and other vendors integral to the construction of the groundbreaking FPSO.
The FPSO EMEM will be the crude oil production, storage and export facility for the Okwok field development offshore Nigeria. It will complement OERL’s existing production facilities at the Ebok field.
The EMEM FPSO is due to sail from Dubai to the field in Q1 2025 where it will integrate with the already installed Well Head Platform (WHP) and five production wells. First oil from the field is anticipated in H1 2025 and will mark OERL’s first fully independently developed and delivered project following its decision to take on direct operating responsibility at its assets.
EMEM is the first FPSO fully funded and converted by a Nigerian indigenous company. Oriental’s decision to develop a bespoke FPSO that suits the needs of the Okwok field is a major engineering milestone for Nigeria’s indigenous oil and gas sector and a validation of OERL’s decision to take on full responsibility and develop the highly skilled Nigerian technical team for operating its assets.
Representing His Excellency President Bola Ahmed Tinubu GCFR, His Excellency the Vice President Kashim Shettima GCON commemorated the event: “The success story that we gather here to honour is one that inspires hope and pride. The FPSO we gather to name today represents a milestone of immense significance at a time when Nigeria’s oil and gas industry is rapidly evolving.
Vessels like this will be instrumental in maximising our production capacity and driving growth. It is a masterpiece. The first of its kind to be fully funded by an indigenous oil and gas company.
Mohammed Indimi epitomises the Nigerian dream. He is an African success story. It is not surprising that his vision has transformed Oriental. His journey reminds us that Nigeria is a land of opportunity and with dedication there is nothing we cannot achieve. Today’s gathering is a celebration of his vision and the achievements of Oriental.”
Blessing the FPSO during the naming ceremony, OERL Chairman Alhaji Dr Mohammed Indimi OFR said: “We are honored that the Vice President has taken time out of his busy schedule to represent the President and join us here today at an event that marks the culmination of many years of investment and time.
Oriental has the ambitious vision to increase Nigeria’s indigenous production capacity. The naming of the Okwok FPSO and its imminent departure for Nigeria is a key milestone in this process, but it also represents a key contribution to the attainment of Nigeria’s oil production targets at a critical time for the industry.
At full production, Okwok is expected to produce up to 30,000 barrels of oil per day and with our existing production at Ebok and an exciting pipeline of development opportunities there is now a clear route to achieving our production targets.”
Describing the technical capabilities of the FPSO, OERL Managing Director Mustafa Indimi said:
“The FPSO EMEM is an example of the growing capacity in the Nigerian indigenous oil & gas sector. This comes at a time where transition of assets to indigenous ownership is accelerating.
As the operator of the Okwok field, we have drilled a batch of wells, fabricated and installed a Well Head Platform and then acquired and managed the conversion of the MV Cactus into an FPSO that has the capability to manage oil and gas separation, gas lift, gas injection and water injection with a processing capacity of 40,000 barrels of oil per day and storage capacity of 1 million barrels of oil.
This is a major step in line with our long term strategy to develop our indigenous technical operational capacity, consolidate our asset base, optimise production and grow organically.”
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