Century FPSO JV To Boost Oil Production By 40,000bpd – Lokpobiri

A Floating Production Storage and Offloading (FPSO) facility by Century Group JV and its partners is set to alleviate Nigeria’s ailing oil production woes by 40,000 barrels per day upon completion next year, minister of Petroleum Resources (Oil), Heineken Lokpobiri disclosed over the weekend.

The FPSO facility is a joint venture between NNPC Limited and Century Nigeria Limited in partnership with WAEP and ENSERV.

An FPSO is a floating facility equipped with hydrocarbon processing equipment for separation and treatment of crude oil, water and gases, arriving on board from sub-sea oil wells via flexible pipelines.
Paying an unscheduled visit over the weekend to the facility, Lokpobiri commended the Century team noting that the facility is a clear example of how partnerships can enhance both local expertise and national output, aligning perfectly with our goal of significantly increasing oil production beyond current quota as directed by President Bola Ahmed Tinubu.

Speaking further, the minister added that the project will soon add 40,000 barrels per day to our national crude production.

“This project demonstrates the kind of commitment and collaboration needed to strengthen our energy sector, and we remain supportive of similar efforts to further enhance our production capacity,” Lokpobiri added.

On his part, the group CEO of Century Group, Ken Etete appreciated the minister for his visit to the facility.

“The minister’s visit is a surprise and it serves as an encouragement to us in our drive to deliver this project and aid in increasing the country’s production,” Etete said.

Etete also revealed that the various upgrades underway at the facility are on track, with full completion expected by the first quarter of next year.

The Century Group CEO noted that this is a very unique project adding that this is the first time a firm will do all together in-country upgrade, modification and deployment using Nigerian resources.
“This fits into the government philosophy in the immediate medium term to increase production.”

“We believe that we are domiciling a lot of resources and benefits to the Nigerian economy. We are also increasing skill sets that you can now see a lot of local people being involved with,” he said.

Since 2002, Century Energy has indirectly participated in about 50 valuable and impactful energy projects worth over US$ 10 billion, Oil installations, equipment, and other assets estimated at over $1 billion and a cumulative contribution to a daily production of over 200,000 bpd.

The organisation has been able to achieve this daring feat being the first domestic energy infrastructure provider to fully own & manage two FPSOs (Tamara Tokoni and Tamara Nanaye).

Presently, Century Energy has within its operational portfolio four FPSO Units including the newly acquired Sendje Berge, four flow-stations, one MOPU, and one FSO which it operates on behalf of various clients in Nigeria.