The Floating Production Storage and Offloading (FPSO) facility in Lagos is on track to significantly enhance Nigeria’s oil output, with an anticipated increase of 40,000 barrels per day. Senator Heineken Lokpobiri, the Minister of State for Petroleum Resources, made this announcement during a recent inspection of the facility, a collaborative project involving the Nigerian National Petroleum Company Limited (NNPCL), Century Nigeria Limited, West African Exploration and Production, and NNPC Energy Services Limited.

In a statement released by his Special Assistant on Media and Communication, Nneamaka Okafor, Lokpobiri expressed his satisfaction with the project’s advancements, highlighting its potential to elevate the nation’s crude oil production. This initiative aligns with President Bola Tinubu’s directive to enhance production levels and is strategically focused on boosting local capabilities while attracting further investments into Nigeria’s oil sector.

ALSO READ: Bayelsa APC Dispute: Lokpobiri and Lyons Suspension Declared Illegal by Ex-Chairman

“The progress here represents the type of investments we need in our oil industry. Facilities like this not only build local capacity but also allow us to expand our crude production beyond existing limits,” the minister remarked.

He further emphasized the necessity of raising Nigeria’s oil output, reaffirming the government’s dedication to fostering partnerships that aim to revitalize the sector. “Our objective is to surpass our current production quotas, and this project embodies the kind of investment needed to accomplish that,” Lokpobiri stated.

During the visit, Mr. Ken Etete, Group Chairman of Century Group, provided updates on the project’s status and future milestones. “We are currently undertaking several upgrades at the FPSO facility, with targets set for different phases of the work. We expect to complete everything by the first quarter of next year,” Etete noted.