LAGOS Deep Offshore Logistics Base (LADOL) plans to invest around $350m (N56bn) to set up an integration facility for oil and gas sector in Nigeria.
LADOL has already completed arrangements to build floating production, storage and offloading (FPSO) in the $15bn Egina deepwater field off Nigeria.
Samsung Heavy Industries has secured a contract to construct the FPSO, and there are plans to use the facility for the fabrication of 10,000 metric tonnes of the vessel, while the facility is expected to be complete in the first quarter of 2015.
The FPSO unit is a floating vessel, which will be used for offshore oil and gas industry to process hydrocarbons and store oil.
The FPSO vessel will receive hydrocarbons that are produced in near platform, and will process and store oil until it is offloaded onto a tanker.
LADOL managing director Dr Amy Jadesimi was quoted by ngrguardiannews (The Guardian Nigeria) as saying that the company has secured all the necessary approvals from government agencies for integration facility, including the Nigerian Ports Authority (NPA) to start work at the site.
The company has already invested about $70m in the new integration facility, according to Jadesimi.
"SaNTA is being established in recognition of the fact that Nigerians will only benefit from the wide spread job creation which will result from Onshore FPSO integration, as well as other important local content milestones with extensive and diverse training provided by world class partners according to management of the companies in a press statement", Jadesimi said.
LADOL also invested around $100m to transform the swampland of Apapa port axis in Lagos into a world class one-stop-shop deep offshore logistics base.
Image: LADOL has already completed arrangements to build FPSO. Photo: courtesy of Ciacho5.