The giant $16 billion Total Egina Floating Production Storage Off-shore (FPSO) that signaled Nigeria's entry into the fabrication of high end engineering works is set to arrive the country's shores in February 2018.
The new FPSO is remarkable for the considerable local content.
Lagos Deep Offshore Base (LADOL), a local engineering firm, handled the fabrication of some of the critical engineering works valued at $3.6 billion and is already 95 percent completed. The Egina is 35 meters high, 330 meters long with a flare boom of 100 meters high just as it has capacity to accommodate 200 people at a time.
It has already left the port of Gohyeon, in Jeoje, South Korea on a 90-day voyage for its final integration in Nigeria.
Mr. Frank Ejizu, Chief Operating Officer of Samsung in Nigeria, confirmed the development, saying that the sail of the FPSO was a great achievement for the oil and gas industry and Nigerian economy.
Ejizu explained that this was the first time part of an FPSO would be fabricated and integrated in Nigeria, noting that the integration was also an encouragement for the Local content law.
“We are ready to receive the Egina – FPSO when it arrives in the next 90 days. When fully integrated, it will create employment opportunities for Nigerians. The Egina FPSO has a storage capacity of 2.2 million barrels of crude oil and a production of 108,000 barrel per day capacity," he said.
PIX: $16b Egina FPSO