Nigerian businessman Ken Etete pays $15 million to acquire FPSO

Nigerian businessman Ken Etete’s company, Century Group, has acquired a floating production, storage, and offloading vessel (FPSO) from BW Offshore for $15 million. The vessel, named Sendje Berge, was purchased as part of Century’s strategy to focus on long-lived, higher return projects by offloading non-core vessels. The sale allows the Oslo-listed company to concentrate on more promising markets in Latin America, moving away from Nigeria.

Sendje Berge (IMO: 7360057) is a floating storage/production vessel sailing under the flag of Singapore. Built in 1974, it has a carrying capacity of 274,333 DWT and a reported draught of 13.7 meters. The vessel has an overall length (LOA) of 348.77 meters and a width of 51.87 meters.

Etete, 48, serves as the chairman and CEO of Century Group, which is the first domestic energy infrastructure provider to fully own and manage two FPSOs, namely Tamara Tokoni and Tamara Nanaye. Additionally, the company operates three FPSOs, four flow-stations, one MOPU, and one FSO on behalf of various clients in Nigeria within its operational portfolio.