The com­plex­i­ties of reg­u­lat­ing FPSOs now con­front Nige­ria

Financial Nigeria Magazine - - Contents - To­tal’s Egina FPSO ar­riv­ing in La­gos

Ef­forts are be­ing in­ten­si­fied by To­tal Up­stream Nige­ria and its part­ners to com­plete the full in­te­gra­tion of some mod­ules onto the com­pany's multi­bil­lion-dol­lar Float­ing Pro­duc­tion, Stor­age and Of­fload­ing (FPSO) ves­sel be­fore it sails to its fi­nal des­ti­na­tion at the Egina oil field. The fab­ri­ca­tion and in­te­gra­tion are tak­ing place at the LADOL Free Zone in La­gos, where the FPSO berthed on Jan­uary 24, 2018 upon ar­rival from South Korea.

Mem­bers of the Se­nate Com­mit­tees on Gas and Pe­tro­leum (Up­stream) and House of Rep­re­sen­ta­tives Com­mit­tee on Lo­cal Con­tent have ex­pressed sat­is­fac­tion with the progress made towards get­ting the FPSO ves­sel fully op­er­a­tional. The ves­sel is ex­pected to be op­er­a­tional in July 2018. The law­mak­ers have also com­mended the level of tech­nol­ogy trans­fer be­ing achieved through the project to en­hance lo­cal in­dus­trial ca­pac­ity.

The suc­cess­ful ar­rival of the gi­ant FPSO to the ter­ri­to­rial wa­ters of Nige­ria – from Sam­sung Heavy In­dus­tries' (SHI) Geoje ship­yard in South Korea where it first sailed on Oc­to­ber 31, 2017 – demon­strates the vi­a­bil­ity of the Nige­rian mar­itime in­dus­try. With the international at­ten­tion that the coun­try's mar­itime sec­tor has at­tracted with the Egina FPSO ar­rival, it is im­por­tant that the sec­tor is prop­erly po­si­tioned to lever­age emerg­ing op­por­tu­ni­ties. Last month, Ex­ec­u­tive Chair­man of LADOL, Ladi Jades­imi, dis­closed that some West African countries have ini­ti­ated dis­cus­sions to use the is­land lo­gis­tics base to de­velop their own off­shore as­sets.

Newspapers in English

Newspapers from Nigeria

© PressReader. All rights reserved.