Billionaire Indimi’s Oriental Oil join league of petroleum product producers in Nigeria

Billionaire Indimi’s Oriental Oil join league of petroleum product producers in Nigeria

By: Bodunrin Kayode

Oil magnate Muhammadu Indimi’s Oriental Energy Resources is set to join the league of petroleum refiners in Nigeria even as his Floating Production, Storage, and Off loading (FPSO) vessel is set to start production when it arrives Nigeria.

The facility which was assembled by
Drydocks World, a Dubai Port (DP) World company, part of a global smart-trade enabler that operates an integrated logistics and supply chain network across Africa and worldwide, carried out a comprehensive refurbishment and conversion of the vessel at its Dubai facility.

The project involved major structural modifications, full marine system upgrades, and the installation and integration of 19 topside production and utility modules, transforming the former oil tanker into a fully operational offshore production unit.

Commissioned by World Carrier Corporation (WCC) on behalf of Oriental Energy Resources Limited (OERL), the FPSO will support production at the Okwok oil field in Nigeria’s offshore Petroleum Mining Lease 15.

Once operational, the FPSO will be able to process up to 70,000 barrels of total liquids per day, manage roughly 15 million standard cubic feet of gas daily and store up to one million barrels of crude oil.

Designed to operate continuously for up to 15 years without dry docking, the vessel is expected to begin production in 2026.

Reacting to the development, Borno State Governor, Professor Babagana Zulum described the Floating Production, Storage, and Offloading (FPSO) vessel as a landmark achievement for Nigeria’s industrial and technological advancement.

Governor Zulum stated this at the sail away ceremony of the EMEM Floating Production, Storage, and Offloading Vessel (FPSO), held at the Drydocks World facility in Dubai, which marked the completion of the vessel, now set to arrive Nigeria.

“The sail away of the EMEM FPSO is more than an engineering feat,” the Governor stated. “It is a powerful statement of confidence in Nigeria’s energy future and a reflection of what homegrown enterprise can achieve when guided by vision, discipline, and excellence.”

He began his remarks by thanking the Government and People of Dubai for their hospitality, noting that hosting the milestone in the UAE “underscores the strength of our mutual commitment to innovation, trade, and sustainable development.”

The EMEM FPSO, a $315 million facility, is the first FPSO to be fully financed by an indigenous Nigerian company, Oriental Energy Resources Limited.

“This achievement does not only contribute to national output, it reinforces our collective belief that Nigeria’s private sector has the capacity to drive growth, create jobs, and compete globally.” said Zulum.

Upon its deployment to Petroleum Mining Lease (PML) 15, the FPSO is expected to boost Nigeria’s oil production and enhance national revenue, aligning with the economic diversification goals of President Bola Tinubu’s Renewed Hope Agenda.

Governor Zulum concluded that the project’s success reflects the “resilience, innovation, and self-reliance” that define ongoing efforts to rebuild Borno State.

“It inspires confidence that, with determination and partnership, Nigeria’s best days lie ahead,” he said.

The event was graced by the Governor of Adamawa, Ahmadu Fintiri and his Akwa Ibom state counterpart, Umo Eno; Billionaire Indimi, Ambassador Babagana Kingibe; Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri and representative of the Chief Executive, Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

Billionaire Indimi’s Oriental Oil join league of petroleum product producers in Nigeria