Harvard Alumnus Hashim applauds Muhammadu Indimi on inauguration of 1st indigenous FPSO
A distinguished Harvard University alumnus and prominent Nigerian engineer, Engr Abdullahi Hashim, has commended Alhaji Dr Muhammadu Indimi, Executive Chairman of Oriental Energy Resources, for his groundbreaking achievement in commissioning the first entirely funded Floating Production Storage and Offloading (FPSO) vessel by an indigenous company. The vessel was inaugurated at the Drydocks World Dubai Shipyard in the United Arab Emirates (UAE).
Hashim, a member of the Council for the Regulation of Engineering in Nigeria (COREN) and a fellow of the College of Diplomacy and International Relations (FCDIR), described Indimi’s milestone as a testament to his visionary leadership and dedication to advancing Nigeria’s oil and gas sector.
In a statement issued on Sunday, Hashim noted that this accomplishment represents a pivotal moment for the petroleum industry. He emphasised that Indimi’s achievement is “second to none” and will significantly impact Nigeria’s economic and energy landscape.
The FPSO, designed for operations in the Okwok Oil Field, is a landmark project in Nigeria’s upstream oil sector. The vessel boasts a storage capacity of one million barrels and is set to kick off production with an initial capacity of 17,000 barrels per day (bpd), eventually ramping up to 30,000 bpd.
“This is the first FPSO entirely funded by a Nigerian company, and it underscores the rising capacity of indigenous firms to conceptualise and execute complex projects in the nation’s upstream oil industry,” Hashim stated.
He further added, “This development marks a significant step toward enabling indigenous oil and gas companies to independently develop marginal oil fields. It is a remarkable milestone for Nigeria and its energy sector.”
Hashim lauded Indimi’s unwavering belief in Nigeria’s oil and gas industry, asserting that the project would foster economic growth, create job opportunities, and drive sustainable development in the sector.
“The FPSO signifies not only a technological and economic feat but also a testament to the potential of Nigeria’s energy sector to effect positive change,” Hashim remarked.
Vice President Kashim Shettima, representing President Bola Ahmed Tinubu at the inauguration in Dubai, echoed similar sentiments. He highlighted the FPSO as a symbol of Nigeria’s ambition and a reflection of the government’s successful oil sector reforms.
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Key Features and Impact of the FPSO
Initial Production: 17,000 bpd, scaling to 30,000 bpd.
Storage Capacity: One million barrels.
Contribution to National Output: Nigeria’s November 2024 oil production stood at 1.4 million bpd, falling short of its OPEC quota of 1.5 million bpd. The FPSO will help bridge this gap.
Strategic Importance: The vessel underscores Nigeria’s commitment to boosting production, aiming to exceed 2 million bpd by 2025.
Timeline: The FPSO is set to arrive in Nigeria in Q1 2025 and commence production in the Okwok Oil Field by mid-2025.
Vice President Shettima also highlighted the FPSO’s role in reinforcing Nigeria’s position in the global energy market while addressing local production needs.
Engr Hashim concluded by praising Indimi’s foresight and leadership, describing him as a “man with the Midas touch” who has demonstrated an unwavering commitment to Nigeria’s economic future.
With the FPSO project, Indimi and Oriental Energy Resources have set a benchmark for indigenous companies in Nigeria’s oil and gas sector, cementing their position as pioneers in the industry.
Written by Sakinat Musa Abubakar, Editor at Neptune Prime
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