Why We Support $3.8 bln FPSO Project in Nigeria- NAPIMS

The National Petroleum Investment Management Services (NAPIMS), has explained its supports for the sitting of $3.8 billion Egina project at the yard of the Lagos Deep Offshore Logistics base (LADOL), saying the logistics supports service provider company has adequately demonstrated its competence in handling such projects.

The clarification came Thursday, by top management staffers of the subsidiary of Nigerian National Petroleum Corporation (NNPC), during a facility tour of the Apapa Port project site which had so far gulped over $450 million in local content imputes.

The project otherwise known as the Egina Floating Production Storage and Offload (FPSO) Integration Platform is regarded as first of its kind in the region, under the management of Samsung Heavy Industries (SHI), with LADOL as its local content partner.

Two general Managers of NAPIMS, Engineers Jock James and Kanayo Odoe, who took turns to address newsmen shortly after touring the project site, expressed delight that their supports for the integration of the fabrication platform at LADOL base has been justified by the quality of work currently going on at the base.

Taking the first comments, engineer Jock who is GM, production Sharing Contract (PSC) of NAPIMS, said the fact that promoters of LADOL had adequately demonstrated their ability to undertake the strategic project through their due diligence, informed “why we stood our ground that Samsung should not take it outside the country.

“It was a battle well fought and what we are seeing today is a reality and a testimony of the fact that we were right in our supports…considering the quality of work being done here, not to mention the fact that a large number of Nigerians are engaged here to acquire trainings and skills.

“During our first time here some years ago, the site we are seeing today was a virgin swamp, and all we could say then was, ‘if you agree with Samsung, this is where the fabrication yard will be sited’. Today, I am glad to note that the story is no longer that it can be done…but it is being done right here in Nigeria” he added.

While commending the efforts of the promoters of LADOL, the NAPIMS boss said his agency has a mandate not only to support the indigenous organization, but to encourage them and other similar organizations who have demonstrated what he called “the can-do spirit” that is needed for the nation’s economic growth.

Also corroborating his colleague, Engineer Kanayo Odoe who is General Manager the Nigerian Petroleum Exchange (NIPEX)- an arm of NAPIMS, said that with the success of the EginaFPSO project so far, “if there is ever a time to be in Nigeria, this is the time”.

According to him, there are so much to look forward to in terms of positive development for an oil producing country, “I can tell that LADOL has created something to be proud of with the level of jobs being done here and the jobs being created for our youths.

“We will do whatever is within our powers to support LADOL because, beyond the commercial angle, this place has a lot more to offer in terms of promoting the social life of the country”, he added.

Earlier in her address, Managing Director of LADOL, Dr. Amy Jadesimi, said the project had so far gulped over $450million and still counting. She expressed certainty that upon completion the base will ensure that much needed technology transfer and skills acquisition happen in Nigeria, as well as the creation of tens of thousands of direct and indirect jobs.

She said that LADOL is also committed to establishing a training school for skills acquisition in the sector that would operate more like an academy where its graduates will be free to seek employment anywhere in the Nigeria.

She said the training school which will take off by December this year will offer trainings to mostly young Nigerians not only in the areas of engineering technical competence, but also in the areas of project management, catering and hospitality management.

By Alex Akao