FIRST Exploration and Petroleum (E&P) Development Company Limited Chairman and Chief Executive Officer Ademola Adeyemi-Bero said the locally produced Madu Conductor Supported Platform (CSP) will bring in an additional 20,000 barrels of oil per day to Nigeria’s total offshore production. and enable initial short-term gas conservation and monetization when operational in September 2022.
Adeyemi-Bero said so yesterday during the official loading of the newly built oil rig by Dorman Long Engineering Limited at Nigeria’s Lagos Shipyard.
He said that the CSP is an essential and integral infrastructure for the next phase of growth within the OML 85 asset, adding that the commitment of a local company for its construction is a testament to the Nigerian OML 83/85 National Petroleum Company Limited (NNPC)/FIRST E&P. Joint venture belief and commitment to Nigerian content.
He said the CSP is a small platform that can hold eight to 10 wells, which he says will operate at a unit cost of less than $10 a barrel, in line with the government’s directive to produce and develop oil. and gas for less than $20.
Adeyemi-Bero said that this project is in addition to Anyala Field’s investment in the delivery of oil production wells and the necessary hydrocarbon processing and handling infrastructure (CSP, FPSO), which continues to supporting more than 40,000 barrels of oil per day, thus generating income/revenue stability for the country.
He added that the company is striving to achieve a production capacity of 100,000 barrels per day of oil as well as gas to enable Nigeria to be independent and boost local employment.
Chairman of Nigeria’s Dorman Long Engineering shipyard, Dr Timi Austen-Peters, said the project, executed by a local firm, is something the country is proud of.
He said the rig, which would produce around 20,000 barrels of oil and gas per day, means a lot to the Nigerian treasury, adding that it is a very significant contribution as the country struggles to meet its OPEC quota.
According to him, the benefits of the project include domestication of expenditure, employment of Nigerians and training of youths.
âWe are not looking for dollars to give to foreign companies, rather we give them to Nigerian companies; we spend the money locally and employ Nigerians while giving young people the opportunity to get training so that they can also do things like this in the future. We domesticate expertise and skills. We make sure to keep everything in the country,â he said.
Also speaking, Superintendent Admiral, Naval Dockyard Limited, Rear Admiral, Hamza Ibrahim said that the Nigerian Navy has provided an enabling environment for the work of the indigenous business, adding that the project will contribute to the national development of the country and well-being. Nigerians.
He said that the Navy also wanted to see Nigeria develop its capabilities in terms of self-reliance in building facilities of this nature, which he said was one of the main strategic reasons why the Federal Government acquired the shipyard.
Ibrahim added that the project was also integral to building maritime power and improving maritime activities in Nigeria, that the navy, under the constitution, is responsible for protecting the maritime environment.
He said the shipyard also enables Nigeria to build its capacity in terms of maintenance and construction of military vessels by providing an enabling environment for the construction of this project.
For his part, the Group Managing Director, National Petroleum Investment Management Services (NAPIMS), Mr. Bala Wunti, commended the management and staff of First E&P, Dorman Long and the entire project team for the hard work invested in the realization of the project. .
Wunti, who was represented by Managing Director, Joint Venture Operation, Mr. Buduwara Zakariya, said the project is in line with President Muhammad Buhari’s unveiling of the new NNPC Ltd with the promise of ensuring reliable power while continuously creating value for all stakeholders.
He also commended the First E&P Joint Venture for the successful delivery of the Phase 1A scope of the Anyala-Madu Field Development Project during the uncertainties of the Covid-19 pandemic, to maintain offshore production operations in a safe manner. and sustainable.
Wunti said NAPIMS is committed to supporting the joint venture to deliver Phase 1b again in an outstanding manner, adding that the development of the Madu field will increase the joint venture’s total production capacity to approximately 60,000 barrels of oil per year. day and facilitate the elimination of gas flaring.