Table of Contents
Key Points
- Muhammadu Indimi launches a $315 million FPSO vessel to expand Nigeria’s oil production.
- The vessel will begin operations at Okwok Oil Field, targeting 30,000 barrels per day.
- Oriental Energy Resources, founded in 1990, remains Indimi's core wealth driver.
FPSO vessel set to transform Nigeria’s oil output
Muhammadu Indimi, founder and chairman of Oriental Energy Resources, unveiled the state-of-the-art FPSO vessel designed to store up to one million barrels of oil. The vessel will begin production at the Okwok Oil Field in Nigeria’s Niger Delta, with an initial output of 17,000 barrels per day (bpd) projected to ramp up to 30,000 bpd.
Vice President Kashim Shettima, representing President Bola Ahmed Tinubu, praised Indimi’s contributions to Nigeria’s energy sector, calling him a generous patriot dedicated to the nation’s progress.
The FPSO is expected to depart Dubai in the first quarter of 2025, with operations commencing mid-2025, bolstering Nigeria’s oil revenues and advancing national development goals.
Oriental Energy Resources strengthens offshore operations
Founded in 1990, Oriental Energy Resources has been a key player in Nigeria’s oil exploration, managing three major offshore assets:
- Ebok Field: Oriental Energy’s flagship offshore production hub.
- Okwok Field: Site of the new FPSO vessel, projected to reach 30,000 bpd production.
- OML 115: A critical asset supporting ongoing operations in the Niger Delta.
Oriental Energy’s infrastructure includes the Ebok Terminal, a strategic hub for crude oil storage and offloading, ensuring efficiency across its offshore operations.
Despite family disputes over the company’s finances, including lawsuits from daughters Ameena and Zara Indimi over stake reductions, Muhammadu Indimi remains focused on Oriental Energy’s growth and leadership in the sector.
A legacy of growth and innovation
The FPSO vessel represents Indimi’s commitment to sustaining and expanding Nigeria’s energy production capabilities. This investment aligns with the government’s strategy to increase oil output and revenues, crucial for funding national development projects.
The vessel’s operations at the Okwok Oil Field will generate significant revenue, create jobs, and attract further investment in Nigeria’s energy sector.
Cementing influence in Africa’s energy market
Through strategic investments like the $315-million FPSO, Muhammadu Indimi continues to shape Nigeria’s oil industry, reinforcing his legacy as a visionary leader. Oriental Energy Resources remains central to advancing the country’s energy ambitions and driving sustainable economic growth.
Indimi’s efforts exemplify the vital role private sector investments play in complementing national productivity and fostering economic development across Nigeria and beyond.
