Nigeria Launches First Wholly Owned Floating Storage Vessel to Boost Crude Exports Nigeria has taken a major step forward in its oil and gas sector with the launch of the country’s first wholly owned Floating Storage and Offloading (FSO) vessel, marking a new era in crude oil evacuation and export. A 2.2 Million-Barrel Capacity National Asset Jointly developed by the Nigerian National Petroleum Company Limited (NNPC Ltd.), Sahara Group, Eroton E&P, and Bilton Energy Ltd., the new facility — named “Cawthorne” — boasts a 2.2 million-barrel capacity and is Nigeria’s first crude oil terminal to be commissioned in 50 years. Strategically positioned offshore Bonny, the double-hull FSO will handle the receiving, storing, and offloading of crude oil to export tankers. It is expected to mitigate the recurring issues of pipeline vandalism, oil theft, and logistical delays. A Step Toward Export Stability According to NNPC, the FSO project aligns with President Bola Tinubu’s economic agenda to optimise upstream production and strengthen Nigeria’s export infrastructure. NNPC Executive Vice President Udobong Ntia said: “This is another bold achievement from the partnership between NNPC and its JV Partners that will guarantee seamless operations and bolster the strategic targets set by President Bola Tinubu towards ensuring optimised upstream production in Nigeria.” Technology and Capacity Highlights Converted from a very large crude carrier (VLCC), the FSO is fitted with advanced mooring systems, a marine control system, and AI-enabled technology for safety, automation, and efficiency. It can house up to 50 crew members and has been designed to accommodate future tie-ins from nearby oil fields, further cementing its status as a strategic national asset. Private Sector Commends the Collaboration Sahara Group’s Head of Commercial and Planning, Tosin Etomi, described the project as a blend of innovation and necessity: “The Cawthorne FSO is not just a vessel; it’s an assurance of continuity, reliability, and value creation. This collaboration embodies our collective drive to transform complex energy challenges into sustainable solutions that power progress across Africa.” The FSO is expected to resolve long-standing crude evacuation constraints, including limited barging capacity and delays from ship-to-ship transfers — boosting Nigeria’s energy independence and export efficiency.