The Madu Conductor Supported Platform (CSP), produced locally, will add an additional 20,000 barrels of oil per day to Nigeria’s total offshore production when it becomes operational in September 2022, according to Ademola Adeyemi-Bero, Chief Executive Officer/Managing Director of FIRST Exploration and Petroleum (E&P) Development Company Limited. It will also enable initial gas conservation and monetisation in the near term.
At the official load-out of the recently built oilfield platform by Dorman Long Engineering Limited yesterday at the Nigerian Naval Dockyard in Lagos, Adeyemi-Bero made this statement.
The Nigerian National Petroleum Company Limited (NNPC)/FIRST E&P’s OML 83/85 Joint Venture’s belief in and commitment to Nigerian content, he said, is evidenced by the engagement of an indigenous company for the CSP’s construction. He added that the CSP is a critical and integral infrastructure for the next phase of growth within the OML 85 Asset.
In line with the government’s direction to produce and develop oil and gas for less than $20, he said that the CSP is a tiny platform that can house eight to ten wells. Once it is operational, he claimed that the CSP will function at a unit cost of less than $10 per barrel.
This project, according to Adeyemi-Bero, is an addition to the Anyala Field investment in the delivery of oil production wells and necessary hydrocarbon processing and handling infrastructure (CSP, FPSO), which continues to sustain over 40,000 barrels of oil per day, generating steady revenue for the nation.
He continued by saying that the company is trying to reach a production capacity of 100,000 barrels of oil and gas per day in order to give Nigeria self-sufficiency and increase local jobs.
Dr. Timi Austen- Peters, the chairman of Dorman Long Engineering Nigerian Naval Dockyard, said the nation is pleased of the project, which was completed by a local business.
He added that the platform, which would be producing roughly 20, 000 barrels of oil and gas per day, is highly important for the Nigerian government’s coffers because the nation has been struggling to achieve its OPEC quota.
He claims that the project’s advantages include the domestication of expenses, employment of Nigerians, and training of young people.
Rear Admiral Hamza Ibrahim, the Admiral Superintendent of Naval Dockyard Limited, also gave a speech in which he claimed that the Nigerian Navy had created the favorable working environment for the indigenous enterprise and that the project will benefit both Nigeria’s development and its citizens.
One of the main strategic justifications for the Federal Government purchasing the Naval Dockyard, according to him, is that the Navy wants to see Nigeria create the capacity necessary to be self-sufficient in creating facilities of this kind.
According to the constitution, the Navy is required to safeguard the maritime environment, and Ibrahim continued by saying that the project is a crucial component of acquiring sea power and advancing maritime activities in Nigeria.
He claimed that by creating an atmosphere that is conducive to the development of this project, the Naval Dockyard also helps Nigeria develop its capability for the maintenance and construction of military vessels.
For his part, Mr. Bala Wunti, Group General Manager of National Petroleum Investment Management Services (NAPIMS), congratulated Dorman Long, First E&P’s management and personnel, and the entire project team for their dedication to seeing the project through to completion.
The project, according to Wunti, who was represented by Mr. Buduwara Zakariya, General Manager of Joint Venture Operations, is in line with President Muhammadu Buhari’s announcement of the new NNPC Ltd, which made the promise to ensure reliable energy while consistently generating value for all stakeholders.
