In a major gain for President Bola Tinubu’s oil sector reforms, Nigeria’s Oriental Energy Resources Limited has unveiled a $315 million Floating Production, Storage and Offloading (FPSO) vessel to boost Nigeria’s oil production capacity.
The FPSO vessel, with a storage capacity of one million barrels, which will kick off with an initial production of 17,000 barrels per day before increasing its production capacity to 30,000 bpd, is expected to depart for Nigeria in Q1 2025 and…
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