$3.3bn Egina FPSO Sails to 200,000bpd Offshore Field Ejiofor Alike Nigeria’s oil and gas sector is set to record another milestone as the $3.3 billion Floating Production Storage Offloading (FPSO) unit built by Samsung Heavy Industries of Korea (SHI) for the 200,000 barrels per day capacity Egina oilfield will sail away in the early hours of today (Sunday)
from LADOL Free Zone in Lagos to the offshore field, investigation has revealed. THISDAY gathered that with the successful completion of the fabrication and integration works in Lagos, the FPSO will in three days’ time arrive at the Egina oilfield located in
Oil Mining Lease (OML) 130, which is being developed at the cost of $16 billion by the French oil major, Total. The FPSO sailed away from the quayside at Samsung Yard in Geoje, South Korea on October 31, 2017 and arrived at the Samsung Yard (SHI-MCI
FZE quayside) in LADOL free zone in Lagos in January, where it was integrated locally by Samsung Heavy Industries Nigeria (SHIN) Limited. It was gathered that the fabrication and integration of the Egina FPSO in Nigeria was the first time such complex
tasks were executed in Africa as there is no other FPSO integration yard elsewhere in the continent. The SHI-MCI FZE located in LADOL Free Zone, is a fabrication and integration yard, the only one of its kind in Africa, built by SHI as part
Uduaghan Set to Join APC 'Within the Week' ... Page 8
of the efforts to make Nigeria the hub of FPSO integration in Africa. THISDAY gathered that with the completion of the fabrication and integration works, the FPSO, which is one of the world's largest, will today enter into the offshore phase. Continued on page 27
Sunday 26 August, 2018 Vol 23. No 8530
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Defections: Balance of Power Between the Parties Olawale Olaleye
It suffices to say that the defection fever, which recently hit the two major political
N E W S A N A LYS I S parties, is yet to subside. Importantly, what appears to be happening now is that
whatever ‘Party A’ loses in a certain area is gained back by ‘Party B’ in other places, thus, escalating the level of uncertainty that has enveloped
the already fluid, but tensionsoaked space. With the pending defection of a former governor of Delta State, Emmanuel Uduaghan,
it is trite to say the last is yet to be seen or heard about the defection bug, which ultimately is being driven by individual ambitions.
It goes without saying that the ruling All Progressives Congress (APC) has lost
Continued on page 8
APC, PDP Equally Corrupt at All Levels, Says Carnegie Endowment Lists 20 sectors vulnerable to corruption, including media APC dismisses report as nonsensical PDP rejects allegations, says party has since re-positioned itself Bayo Akinloye A report on corruption by the Carnegie Endowment for International Peace has slammed the ruling All Progressives Congress (APC) and the main opposition Peoples Democratic Party (PDP) as being corrupt and inclined to using political
power to steal public resources. The report titled, “A New Taxonomy for Corruption in Nigeria,” which was published recently, said despite President Muhammadu Buhari’s anticorruption posture, there was little difference between his party, APC, and PDP. Continued on page 8
“Corruption is the single greatest obstacle preventing Nigeria from achieving its enormous potential. It drains billions of dollars a year from the country’s economy, stymies development...”
US Senator, John McCain, former Presidential Candidate, Dies at 81... Page 10
90 HAPPY CHEERS FOR THE MATRIACH... Celebrant, Chief (Mrs) Suzanne Elumelu (sitting) flanked by her sons, Chairman of Heirs Holdings, Mr. Tony Elumelu; and Director, Africa Prudential Plc, Peter Elumelu, and Chairman of Zenith Bank, Mr. Jim Ovia (middle), at the 90th birthday celebration organised for Mrs. Elumelu by her children in Lagos... yesterday