Samsung Heavy Industries Nigeria to diversify into renewable energy

Samsung Heavy Industries Nigeria (SHIN) says it will diversify into the renewable energy market to provide solutions to the country’s energy challenges.

According to a statement on Monday, SHIN tabled its diversification plan to Felix Omatsola Ogbe, the executive secretary of NCDMB, in Lagos on Friday, during a visit by Jin Lee, the firm’s new managing director.

“The company intends to manufacture floating foundations and associated assets for wind farms, and other renewable projects,” SHIN said.

The company said Ogbe and Lee also spoke about SHIN’s in-country capacities, particularly its heavy fabrication and floating production storage and offloading (FPSO) integration quayside at the SHI MCI free zone in Takwa Bay, Lagos.

During the meeting, SHIN said NCDMB was asked to introduce the company to the African Petroleum Producers Organisation (APPO) and other international clients, as it will help SHIN market its capabilities, attract global businesses, and position Nigeria as a key hub for exporting oil and gas services across Africa.

“The company sought the Board’s assistance to attract new projects to the facility, highlighting their experience to execute major oil and gas projects and pledging support to the Federal Government’s mantra of fast tracking crude oil production and creating employment opportunities for Nigerians,” SHIN said.

“The SHIN team reminded the Executive Secretary that their facility executed key scopes in-country aspects of Total Energies’ Egina deepwater project, including the partial integration of the Egina FPSO in 2017 and 2018.

“The project remains a reference point for local content accomplishment in the Nigerian oil and gas industry till date.

“Lee regretted that the facility had not carried out major projects since the onset of COVID-19 pandemic in 2020, when oil industry operations were significantly impacted.”

On his part, the executive secretary welcomed the managing director to Nigeria and assured him of the board’s support, in line with its mandate to encourage the domiciliation of critical oil and gas industry operations and promote patronage of established capacities.

‘COLLABORATE WITH INDIGENOUS SERVICE COMPANIES’

Ogbe asked SHIN to collaborate with indigenous service companies, enhance their capacities, and maximise employment opportunities to boost the economy.

“Speaking further, Ogbe promised to recommend SHIN to APPO and other international groups, in furtherance of the Nigerian Content 10-year strategic roadmap’s sectorial and regional linkage enabler,” the statement noted.

He explained that the enabler prioritises the creation of international opportunities for Nigerian companies that have demonstrated outstanding capacities in the sector.

Additionally, he assured that the board would conduct a visit to SHIN’s facilities, accompanied by representatives of both international and indigenous operating oil and gas companies.

Ogbe noted the visit would include assessing the company’s capacities and mobilising patronage.