Samsung, Century Group Sign Agreement on FPSO Renovation

Global shipbuilding giant, Samsung Heavy Industries Nigeria Limited (SHIN) and the largest operator of Floating, Production, Storage and Offloading vessel (FPSO) and flow stations in Sub-Saharan Africa, Century Group, have signed an agreement on 24th March, 2023 for the Front Puffin FPSO (now renamed FPSO Tamara Nanaye) upgrade in Nigeria.

This de-bottlenecking upgrade will be a significant momentum to lead a maintenance and upgrade works for existing FPSOs operating in-country, to increase their production capacity.

The FPSO is scheduled to be put into another oil field after undergoing renovations such as adding topside production facilities, altering flaring capacity, change mooring system to spread mooring and adding a riser porch structure to increase the production capacity of the FPSO.

This localization strategy of Century Group and Samsung Heavy Industries Nigeria can be seen as the first groundbreaking example of contributing to an increase in oil & gas production in Nigeria by putting it into the field early by reducing the input cost and shortening the construction period of FPSO renovation work.

Century is the first indigenous company to renovate FPSO locally. It will be recorded in history as the first company to successfully complete such project, and plan for additional FPSO/FSO owned by Century Group in the future. The renovation will be carried out in-country to contribute to the improvement of Nigeria’s technology and development of oil and gas sector.

This also shows the support of the Century Group to the development of local capacity, as required by the Nigerian Content.