The FPSO, which was built by Samsung Heavy Industries (SHI), sailed away from the quay side at Samsung Yard in Geoje, South Korea, on October 31, 2017, on its long anticipated journey to Nigeria, which was initially estimated to last for 90 days.

It was gathered that it arrived at the Samsung Yard (SHI-MCI FZE quayside) in Lagos on Tuesday.

Located in the Oil Mining Lease (OML) 130 offshore, the Egina oilfield, which will add 200,000 barrels per day of crude oil to Nigeria’s daily production when it comes on stream by the end of 2018, is being developed by Total Upstream Nigeria Limited (TUPNL) at the cost of $16 billion.

Out of the $16 billion capital expenditure (Capex) for the six packages in the oilfield development, $3.3 billion of this amount is earmarked for building the FPSO.

Speaking at the Samsung’s fabrication and integration yard located at LADOL Free Zone in Lagos, the Chief Financial Officer of SHI-MCI, Jin Su Park stated that the FPSO arrived Nigeria by 7a.m on January 23, 2017.

He noted that despite the numerous challenges that confronted SHI in the construction of the yard, the South Korean firm has successfully completed the yard, which is the first FPSO fabrication and integration yard in Africa.

According to him, Samsung Heavy Industries invested $300 million in the yard and achieved 777 days without Loss Time Injury (LTI) on January 19, being yesterday.

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In a ceremony in Southhampton, the Managing Director and Chief Executive of NLNG, Babs Omotowa, said the introduction of the manned model was “a deliberate strategy to upscale NLNG’s world-class safety and operations records and achievements.”

The manned model will join other model used by Warsash Maritime Academy, a world leading marine technology and training academy, to provide training, consultancy and research to NLNG and help develop mariners in the art of handling a ship. The models are tools of simulation and are built to the correct power to weight ratio as its full sized counterpart.

The model was built to the 1:25 scale after one of the six DFDE vessels recently commissioned by Bonny Gas Transport (BGT), a subsidiary of NLNG.

The company, in 2013, signed $1.6 billion deal with Samsung Heavy Industries (SHI) and Hyundai Heavy Industries (HHI) to build six vessels.

According to Omotowa, “NLNG’s current goal is to sustain growth and build upon it, safely. And that is precisely why we are here today. NLNG’s partnership with Warsash Maritime Academy helped us to obtain the required design specification for the manned model, which was delivered from South Korea last month.

“The partnership will also deliver the highest quality ship handling training for NLNG fleet officers and authorized third-party personnel. This is in addition to specialized consultancy services required for the planned NLNG Marine Resource Centre at Bonny Island.

“Our two companies may be separated by the oceans and great distances. But I have no doubt that we are united in our joint ambition to be the very best at what we do. It is no big surprise therefore that Nigeria LNG and Warsash have a relationship dating back many years,” he stated.

He added that through integrity, team work, excellence and caring, NLNG has been built to be a safe, reliable and profitable company. NLNG and Warsash Maritime Academy have a long-standing relation in the training and skills development of ship personnel manning NLNG vessels.

Dr Syamantak Bhattacharya, Director of Southampton Solent University’s School of Maritime Science and Engineering, says “This most recent addition to the fleet demonstrates the importance placed on this type of training by the shipping industry.

“Our Ship Handling Centre is internationally renowned and Nigeria LNG’s latest investment represents a significant addition to our fleet. We look forward to welcoming Nigeria LNG’s officers to our Ship Handling Centre at Timsbury Lake.”

Warsash Maritime Academy, the commercial maritime arm of Southampton Solent University, has provided first-class education, training, consultancy and research services to the international shipping, commercial yacht, and offshore oil and gas industries for 70 years.

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PAI is a mechanical engineering and equipment supplies company operating in Nigeria’s oil and gas sector.

A senior official with AMCON who confirmed the transaction to our correspondent on the condition of anonymity, said that the deal was closed recently when the PAI Group paid N16 billion for 95 per cent of the equity interest in Ascot.

Under the terms of the deal, he said the group would also take over the non-statutory liabilities of Ascot while AMCON would shoulder the company’s statutory liabilities amounting to some N6 billion.

“Ascot has a tax liability of N6 billion, of which AMCON will pay N3 billion to the Federal Inland Revenue Service (FIRS) while the balance will be paid to other agencies of government that Ascot owes,” he said.

He said with the sale of the firm, its new owners would be able to revitalise its massive fabrication yard in Port Harcourt, the Rivers State capital, and provide jobs for thousands of Nigerians.

Although efforts to reach Ejizu were not successful, industry sources conversant with the transaction disclosed that the Ascot acquisition could prove to be very lucrative for PAI and its partners.

Ejizu, who holds controlling interest in PAI, also doubles as the Country Director/agent of Samsung Heavy Industries, which was awarded the $3.3 billion contract for the Egina deepwater oil field operated by France’s Total.

Industry sources confirmed that the Ascot fabrication yard in Port Harcourt has been certified by Total for the local fabrication of the Floating Production Storage Offloading (FPSO) vessel that will service the oil multinational’s Egina field.

Ascot Offshore, an energy services firm once led by Henry Imasekha, came into prominence in 2007 after its $155.25 million acquisition of Willbros Group Nigeria Holdings from its US parent, Willbros Group.

Willbros was forced to withdraw from Nigeria, following its indictment alongside Halliburton and others by the US Justice Department and US Securities and Exchange Commission (SEC) for bribing Nigerian officials to obtain and retain $387 million in Nigeria Liquefied Natural Gas (NLNG) contracts.

In May 2008, Willbros was fined $32 million in combined penalties, disgorgement and pre-judgment interest by the US SEC and Justice Department on allegations relating to its operations in Nigeria, Ecuador and Bolivia.

However, after Willbros was taken over by Imasekha’s Ascot, it borrowed heavily from the defunct Intercontinental Bank Plc in order to complete the West African Gas Pipeline contract that had been awarded by Chevron Nigeria Limited to Willbros before its departure from Nigeria.

Ascot’s ability to deliver the project was however hampered following a disagreement with Chevron on the execution of the gas pipeline contract from Escravos to Benin Republic, which resulted in the former defaulting on its loan obligations to Intercontinental Bank.

Owing to its inability to repay Intercontinental Bank, AMCON took over the firm and has managed Ascot’s operations until it was sold to PAI.

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