The Dangote Group, owner of West Africa’s largest refinery, is gearing up to initiate crude oil production from its two Nigerian oil assets in the fourth quarter of 2024, as reported by S&P Global Commodity Insights on October 10.
According to sources within the company, Dangote is currently on the hunt for a floating production, storage, and offloading (FPSO) vessel with a capacity to hold 650,000 barrels of crude oil.
This strategic move is part of the company’s broader efforts to establish a foothold in the upstream oil sector.
This region is home to the promising Kalaekule and Koronama oilfields, which are expected to contribute significantly to the country’s oil production capacity.
As the Dangote Group moves closer to its production goals, this venture represents a critical step in enhancing Nigeria’s oil industry and the country’s overall energy landscape...
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