Nigeria has commissioned its first wholly owned crude oil terminal in half a century, marking a significant milestone in the country’s efforts to revitalize its oil and gas sector. The Cawthorne Floating Storage and Offloading (FSO) vessel, with a capacity of 2.2 million barrels, was unveiled by NNPC Limited in partnership with Sahara Group, Eroton E&P, and Bilton Energy Ltd.
The world-class facility is strategically stationed offshore Bonny and will serve OML 18 and nearby assets. The double-hull FSO vessel will receive, store, and offload crude oil to export tankers, providing a crucial solution to the logistical and infrastructural constraints that have long limited Nigeria’s crude evacuation capacity.
Udobong Ntia, EVP Upstream at NNPC, who represented NNPC GCEO Bashir Ojulari at the commissioning, described the achievement as “another bold achievement from the partnership between NNPC and its JV Partners that will guarantee seamless operations and bolster the strategic targets set by President Asiwaju Bola Ahmed Tinubu towards ensuring optimised upstream production in Nigeria.”
Seyi Omotola, NNPC Chief Upstream Investment Officer, said the vessel represents a “renewed hope” for Nigeria’s upstream sector and reaffirms the nation’s growing capacity to make its energy sector globally competitive. The OML 18 partners include Nigerian National Petroleum Company Ltd (NNPCL), Eroton E&P, OML Eighteen Energy Resource Ltd. (a Sahara Group Company), and Bilton Ltd.
Source: independent.ng