Nigeria Commissions First Wholly Owned Floating Vessel To Strengthen Oil Exports

Nigeria has commissioned its first wholly owned Floating Storage and Offloading (FSO) vessel in a bid to improve crude oil production, boost exports, and enhance security against theft and sabotage.

The vessel, named FSO Cawthorne, is stationed offshore near the Bonny export terminal, a key hub for Nigeria’s high‑grade Bonny Light crude.

The project was delivered through a partnership between the Nigerian National Petroleum Company Limited (NNPC Ltd.), which holds a 55% stake in Oil Mining Lease (OML) 18, together with Eroton Exploration & Production, Sahara Group, and Bilton Energy.

According to statements from Sahara Group’s subsidiary, Asharami Energy, the vessel is expected to reduce carbon exposure linked to barge transportation and improve the safety and efficiency of crude evacuation operations.

Analysts have described the vessel as a strategic asset in Nigeria’s plans to overcome long‑standing logistical challenges.

The FSO Cawthorne, converted from a Very Large Crude Carrier (VLCC), has a storage capacity of 2.2 million barrels of crude oil. Its double‑hulled design allows it to receive, store, and offload oil directly to export tankers, offering an alternative to onshore pipelines that are vulnerable to vandalism and theft.

The deployment of the FSO is expected to help OML 18 reach its 2025 production goal of 50,000 barrels per day. It will also tackle challenges such as limited barge capacity, siltation at berthing locations, and delays in ship‑to‑ship transfers.

Experts say it will improve turnaround times for exports and reduce the need for costly pipeline repairs.

The project is part of efforts by Nigeria’s government to modernise oil logistics, attract new investment, and enhance the country’s position as Africa’s leading oil producer.

Reference: Reuters