Nigeria Set to Receive First Locally-Owned Offshore Storage Unit with One Million-Barrel Capacity

Nigeria is set to receive its first locally-owned offshore storage unit with a one million-barrel capacity, marking a major milestone for the country’s offshore oil production and storage capabilities.

The unit the EMEM FPSO was converted at Drydocks World Dubai (DDWD), a subsidiary of DP World, for Oriental Energy Resources Limited (OERL) and is slated for deployment at the Okwok Field (PML 15) offshore Nigeria. The project represents a significant step in Nigeria’s push to modernise offshore energy infrastructure, expand export potential, and strengthen energy self-reliance.

The EMEM FPSO, converted into a fully operational floating production, storage, and offloading vessel, is capable of processing up to 70,000 barrels of total liquids per day, handling about 15 million standard cubic feet of gas daily, and storing one million barrels of crude oil.

Captain Rado Antolovic, CEO of Drydocks World, said the conversion was executed by World Carrier Corporation (WCC) on behalf of OERL. “This vessel reflects our commitment to supporting Africa’s offshore energy infrastructure and advancing Nigeria’s production capabilities,” he stated.

The vessel’s delivery follows an extensive refurbishment in Dubai, including major structural upgrades, full marine system modernization, and the installation of 19 topside production and utility modules.

Officially named in December 2024 at a ceremony attended by Vice President Kashim Shettima, the EMEM FPSO is scheduled to begin production in Q1 2026, underscoring the federal government’s commitment to boosting oil output, enhancing local capacity, and increasing energy independence.