Nigerian Minister announces new FPSO facility in Lagos, expected to increase crude oil production by 40,000 bpd.

The Nigerian Minister of State for Petroleum Resources, Senator Heineken Lokpobiri, announced that a new Floating Production Storage and Offloading (FPSO) facility in Lagos, developed with NNPCL and Century Nigeria Limited, will enhance local capacity and attract further investment in the oil sector. This project is expected to increase Nigeria's crude oil production by over 40,000 barrels per day, supporting the government's push for greater output.

October 12, 2024
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