SHI Has Turned Nigeria Into Africa’s Vessel Construction Hub – NCDMB

By December 24, 2019 Investment News

The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Mr. Simbi Wabote, has said that successful completion of the Egina Floating, Production, Storage and Offloading unit, (FPSO) by the Korean shipbuilding giant, Samsung Heavy Industries (SHI) has not only placed LADOL free zone on global map but significantly transformed Nigeria into a hub for fabrication and integration of FPSO, unit in Africa.

Wabote who could not hide his excitement at the level of local content achievement during the construction, told participants at the capacity workshop for media stakeholders organised by NCDMB in Lagos recently that LADOL would ever be grateful to SHI for this great exposure.

The theme of the workshop was: “Strategic Communication- a Critical Enabler to Attainment of Nigerian Content 10- Years Roadmap.”

Speaking through the NCDMB’s General Manager, Corporate Communications and Zonal Coordination, Dr. Ginah O. Ginah, the NCDMB boss said Nigeria through the Egina FPSO project has become a reference point in giant FPSO construction.

“Of course, it is on record that LADOL was existing but it did not have the capacity. So, what did we do – which is in a way like the 10 years’ roadmap, during when we intend to achieve 70 per cent attainment so the calculation was that, ok the South Korean people, significant part of the FPSO to be constructed in-country; so, we can begin to build capacity in Nigeria.

Even the parts that are made in Nigeria – we understand that the capacity was not there also; so, we have to engage SHI and other companies in Nigeria in building capacity.

We engaged companies in Port Harcourt and other places, and yet all these places did not have the capacity as at then but we calculated that by the time the South Korea will finish their job we should be able to build the capacity in this country. So it was a big risk, so, LADOL was already existing and they were praying for one big project that they will break all the records and the big project came,” Wabote explained.

“So to LADOL we were sent by God; we are the one complaining. LADOL is now known everywhere in the world, and they have made more money through this project than they have made before altogether,” Wabote said.

Wabote said the successful construction and local integration of the Egina FPSO in Samsung’s fabrication yard in Lagos was a key success story in the Nigerian content initiative.

“Under the local content implementation, we have seen a major breakthrough with the massive investment by Samsung in Lagos. The successful construction and integration of the FPSO for the Egina project is worthy of mention, and this is a key success story and going forward this singular asset will bring about massive revenue to the country as we expect other African countries to take advantage of this facility than going outside the shores of the continent for FPSO construction,” Wabote explained.

“Samsung has proved to have effectively transformed the country into FPSO construction hub, and recall we were doing this in Korea before now,” Wabote added.

The Korean giant had set a new record on Nigerian content when it successfully completed the FPSO unit, the largest floating oil platform in the world, and also achieved first oil in the facility. A number of records were broken during construction as the project was the first ever project to meet Nigeria’s demanding new standards for local content as attested to by the NCDMB.

Source: All Africa