December 15, (THEWILL) – Despite the ongoing turmoil in his immediate family – his two daughters, Ameena and Zara dragging him to court for reducing their stake in the family-owned business, Oriental Energy Resources, billionaire businessman, Mohammed Indimi, remains unfazed and is channelling all of his energy into ensuring that he takes his oil exploration business to the next level.
On Friday, he got Vice President Kashim Shettima, who represented President Bola Tinubu to inaugurate his $315 million floating production, storage, and offloading FPSO vessel in faraway Dubai.
The FPSO vessel, with a storage capacity of one million barrels, built to boost Nigeria’s oil production capacity, is expected to kick off with an initial production of 17,000 barrels per day before increasing its output capacity to 30,000 bpd.
The vessel is expected to depart for Nigeria in the first quarter of 2025 and commence production at the Okwok oil field in the first half of next year. At full capacity, the Okwok Oil Field is expected to produce up to 30,000 barrels of oil a day for a start, significantly enhancing Nigeria’s oil production and contributing to the government’s ambition to increase oil revenue to fund Nigeria’s development. Founded in 1990.
The company which is the cornerstone of Indimi’s wealth operates three major offshore assets; the Ebok Field, Okwok Field, and OML 115 in the Niger Delta region. Its flagship Ebok Terminal serves as a strategic offshore production hub for crude oil storage and offloading.
Ivory Ukonu is a versatile journalist with many years of experience, with entertainment and society reporting as her area of core competence.
