Shettima unveils $315m oil production vessel in Dubai to boost Nigeria’s oil sector

Shettima unveils $315m oil production vessel in Dubai to boost Nigeria’s oil sector

By Fly Cable News

Vice President Kashim Shettima on Saturday commissioned the launch of a new Floating Production, Storage and Offloading vessel by Oriental Energy Resources Limited.

The VP represented President Bola Tinubu at the Drydocks World Dubai Shipyard in Dubai, the United Arab Emirates

The vessel, named ENEM FPSO, 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 bpd.

According to a statement by the Senior Special Assistant to the President on Media and Communications, Office of the Vice President, Stanley Nkwocha, this development aligns with the president’s efforts to revitalise the nation’s oil and gas sector, as the government aims to optimise production, reduce dependence on foreign imports and generate more revenue.

Shettima said, “This FPSO vessel is more than just a technological achievement; it is a symbol of Nigeria’s ambition and our readiness to meet global energy demands. Under President Tinubu’s leadership, we are witnessing the transformation of the oil and gas sector, which is central to our economic revitalisation efforts.”