SHIN Seeks NCDMB Support for Oil Industry Projects, Plans Expansion into Renewables
In a strategic move to bolster its operations and diversify its portfolio, Samsung Heavy Industries Nigeria (SHIN) has secured assurances of support from the Nigerian Content Development and Monitoring Board (NCDMB) for its ongoing and future oil industry projects. This development followed a high-level meeting held on Friday at the NCDMB’s Lagos liaison office.
The Executive Secretary of NCDMB, Engr. Felix Omatsola Ogbe, warmly received the SHIN delegation, led by the company’s newly appointed Managing Director, Mr. Jin Lee. Discussions centered on SHIN’s in-country capabilities, including heavy fabrication and Floating Production Storage and Offloading (FPSO) integration at their SHI-MCI Free Zone facility located at Takwa Bay, Lagos.
SHIN sought the Board’s support in attracting new projects to their facility, highlighting their robust track record in executing major oil and gas projects. The company reiterated its commitment to supporting the Federal Government’s objectives of accelerating crude oil production and generating employment opportunities for Nigerians.
Reflecting on SHIN’s contributions to Nigeria’s oil and gas sector, the delegation reminded the NCDMB of their pivotal role in the in-country execution of Total Energies’ Egina deepwater project. This included the partial integration of the Egina FPSO between 2017 and 2018, a project that remains a landmark achievement in local content development within Nigeria’s oil and gas industry.
Mr. Lee expressed concerns over the decline in major projects since the COVID-19 pandemic disrupted global oil operations in 2020. To rejuvenate their business, SHIN requested NCDMB’s assistance in establishing connections with the African Petroleum Producers Organisation (APPO) and other international stakeholders. These introductions are aimed at positioning Nigeria as a hub for exporting specialized oil and gas services across Africa.
Expanding beyond traditional oil and gas, SHIN also announced its strategic plans to venture into the renewable energy sector. The company aims to manufacture floating foundations and related infrastructure for wind farms, contributing to sustainable energy solutions in Nigeria.
In his response, Engr. Ogbe welcomed Mr. Lee to Nigeria and reaffirmed NCDMB’s commitment to supporting SHIN’s initiatives. He emphasized the Board’s mandate to promote the domiciliation of critical oil and gas operations and to encourage the utilization of established local capacities.
Ogbe urged SHIN to collaborate with indigenous service providers, enhance local capacities, and maximize job creation. He further pledged to recommend SHIN to APPO and other international organizations, aligning with the Nigerian Content 10-Year Strategic Roadmap, which focuses on creating international opportunities for Nigerian companies with proven capabilities.
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Additionally, the Executive Secretary promised that NCDMB, alongside representatives from international and indigenous oil and gas companies, would conduct an official visit to SHIN’s facilities. This visit aims to assess SHIN’s operational capacities and facilitate increased patronage from industry stakeholders.
This collaboration marks a significant step in strengthening Nigeria’s position in both the oil and renewable energy sectors, fostering economic growth, and promoting sustainable development across the region.
