Samsung Heavy Industries Nigeria (SHIN), a subsidiary of the global shipbuilding giant, has embarked on a strategic initiative to revitalize its operations and expand its footprint in the Nigerian oil and gas sector. Mr. Jin Lee, the Managing Director of SHIN, recently met with Mr. Felix Ogbe, the Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), to solicit the Board’s support in securing new projects and fostering international collaborations. This meeting underscores SHIN’s commitment to leveraging its existing infrastructure and expertise to contribute to Nigeria’s economic growth and establish the country as a regional hub for oil and gas services. The discussions centered around SHIN’s in-country capabilities, including its heavy fabrication and FPSO integration quayside at the SHI-MCI Free Zone in Takwa Bay, Lagos, a facility that played a pivotal role in the successful execution of TotalEnergies’ Egina deepwater project.
The Egina project, a significant milestone in Nigerian oil and gas history, served as a showcase for local content development. SHIN’s involvement in the partial integration of the Egina FPSO in 2017 and 2018 demonstrated the company’s capacity to handle complex offshore projects. However, the subsequent downturn in the oil and gas industry, exacerbated by the COVID-19 pandemic, has led to a period of inactivity for SHIN’s Takwa Bay facility. Keen to reignite operations and capitalize on the recovering market, SHIN is actively seeking the NCDMB’s intervention to attract new projects and maximize the utilization of its existing infrastructure. This proactive approach highlights SHIN’s commitment to contributing to Nigeria’s economic recovery and its long-term vision for local content development.
Mr. Lee emphasized SHIN’s experience in executing major oil and gas projects and reiterated the company’s alignment with the Nigerian government’s objectives of boosting crude oil production and creating employment opportunities. Recognizing the NCDMB’s influential role in shaping the Nigerian oil and gas landscape, SHIN requested the Board’s assistance in connecting them with potential clients, both domestically and internationally. Specifically, SHIN expressed its desire to be introduced to the African Petroleum Producers Organisation (APPO) and other international entities, aiming to showcase its capabilities and secure projects that would position Nigeria as a key exporter of oil and gas services within Africa. This strategic move aligns with SHIN’s broader goal of establishing Nigeria as a regional hub for complex offshore projects.
Beyond its core business in the oil and gas sector, SHIN also unveiled its ambitious plans to diversify into the renewable energy space, further solidifying its commitment to Nigeria’s sustainable development. Recognizing the growing global focus on clean energy and the immense potential for renewable energy in Nigeria, SHIN intends to manufacture floating foundations and associated assets for wind farms and other renewable energy projects. This diversification strategy not only opens up new avenues for growth but also aligns with the global shift towards cleaner energy sources, positioning SHIN as a forward-thinking player in the energy sector.
Mr. Ogbe, the Executive Secretary of the NCDMB, welcomed Mr. Lee and expressed the Board’s commitment to supporting SHIN’s endeavors, in line with its mandate to promote local content development and encourage the patronage of established in-country capacities. He stressed the importance of collaboration between international companies like SHIN and indigenous service providers, emphasizing the need for capacity building and maximizing job creation within the Nigerian economy. Mr. Ogbe’s assurance of support underscores the NCDMB’s commitment to fostering a vibrant and sustainable oil and gas industry in Nigeria, with a strong emphasis on local participation and value creation.
Furthermore, Mr. Ogbe pledged to recommend SHIN to APPO and other international organizations, aligning with the NCDMB’s 10-Year Strategic Roadmap, which prioritizes creating international opportunities for Nigerian companies with demonstrable capabilities. This commitment to promoting Nigerian businesses on the global stage reinforces the NCDMB’s role as a catalyst for growth and internationalization within the oil and gas sector. By connecting SHIN with international clients, the NCDMB aims to facilitate the export of Nigerian expertise and services, further solidifying Nigeria’s position as a key player in the African and global energy market. This strategic collaboration between SHIN and the NCDMB exemplifies the potential for public-private partnerships to drive economic growth and sustainable development in Nigeria’s dynamic energy landscape.
