Samsung set to consider more business opportunities in Nigeria after success of the Egina Floating Production Storage Offloading unit

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Samsung Heavy Industries, together with its partners will consider chasing more business opportunities in Nigeria after the successful completion of the Egina Floating Production Storage Offloading (FPSO) unit.

A statement released by Samsung said the completion of the largest floating oil platform in the world, Egina, was a significant achievement.

According to the statement released, “a number of records were broken during construction. This is the first ever project to meet Nigeria’s demanding new standards for “local content”, which in simple terms means Nigerian-owned business delivering work in Nigeria. This project went further than just that. Nigerian parts and expertise were even flown to Samsung’s headquarters in Korea to be installed in the early stages of construction of the Egina before it was sailed to Lagos for final construction”.

In the statement, it was noted that “this success story has been made possible through Samsung Heavy Industries’ belief in the potential of Nigerian companies and workers to deliver to their tough, exacting standards. Over 9.7 million hours of time have been spent by the Nigerian workforce, with over 6,000 Nigerians in employment on the project at its peak via Samsung and its partners and subcontractors”.

Samsung revealed that “perhaps even more exciting than this direct opportunity for the best companies and workers is the potential it opens up for the country as a whole. As we all know, the oil and gas industry is growing across the whole of Africa, and that means many more floating oil platforms and other pieces of large equipment need to be repaired, maintained and built”.

The company added that “the combination of Korean efficiency and expertise, fused with Nigerian talent and passion, presents limitless possibilities for a future repairing, maintaining and building high value ships to serve needs in Africa and beyond – just watch this space”.

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