FIRST Exploration and Petroleum Development Company’s (“FIRST E&P”) Executive team led by the Managing Director, Mr Ademola Adeyemi-Bero presented a scale model of the Abigail-Joseph Floating, Production, Storage and Offloading (FPSO) unit to the Director, Department of Petroleum Resources (DPR), Mr Sarki Auwalu, at a ceremony held on April 15th, 2021 at the Department’s Centre of Excellence in Lagos.
In his opening remarks, FIRST E&P MD said that for any organisation to succeed, enabling regulations to support growth have to be provided by the regulator. In his response, Director, DPR stated that, FIRST E&P was an exemplary organisation demonstrating positive Return on Investment (ROI) in the oil and gas industry in Nigeria, and one the agency is proud to showcase to other potential investors.
According to Mr. Sarki Auwalu, “We are proud to showcase FIRST E&P as a Nigerian success story. The milestone on production and offtake is a huge and welcome development for the economy at this time and must be celebrated.”
Support by the DPR, as the regulator of the oil and gas sector, has contributed positively to FIRST E&P’s success in the exploration and production of oil in shallow offshore from the Anyala West field in Oil Mining Leases (OMLs) 83 & 85. Past and ongoing active DPR engagement is a testament to the Department’s drive for expansion of Nigerian companies and an enabler for thriving in the energy industry.
The Abigail-Joseph FPSO is currently anchored at the Anyala West Field in OML 83 has now fully commenced offloading and export of oil from the Anyala West Field.
As FIRST E&P continues its drive to be the most admired independent E&P Company contributing to the well-being of Nigerians, it remains focused on creating sustainable value, by leveraging its robust portfolio of assets, with an entrepreneurial and commercial growth mindset.