Ken Etete: The dependable Oil and Gas CEO
When you hear Ken Etete, the testimonies you will hear about him are not far-fetched. Having built a name for himself in an industry marred by several high risks with many CEOs falling prey to the uncertainties of the sector, Ken Etete who is the Group Chief Executive Officer of Century Group has continued to stay afloat and pride himself as one of Nigeria’s dependable oil and gas CEOs.
Ken is a trusted high risk portfolio manager who manages the largest fleet of Floating Production Storage and Offloading (FPSO) vessels. To further reiterate his capability to manage effectively oil and gas assets, Ken recently acquired a floating production, storage, and offloading vessel (FPSO) from BW Offshore for $15 million. The vessel, named Sendje Berge, was purchased as part of Century’s strategy to focus on long-lived, higher return projects by offloading non-core vessels.
Additionally, the company operates three FPSOs, four flow-stations, one MOPU, and one FSO on behalf of various clients in Nigeria within its operational portfolio.
Century Group (CG) where he serves as CEO is the first domestic energy infrastructure provider to fully own and manage two FPSOs, namely Tamara Tokoni and Tamara Nanaye.
The company prides itself as one of Nigeria’s foremost indigenous industrial groups operating in the energy and non-energy sectors.
One thing many business partners and colleagues in the industry have repeatedly commended Ken for is his reliability to deliver and his integrity.
Ken has been described as an individuals who will handle projects and deliver on the expected date. He is also neither a CEO who compromises on excellence to save costs.
His business partners have repeatedly testified that you only offer Ken a project you wish to execute to the best standards obtainable worldwide.
Ken has always wanted to provide value, identify problems and proffer solutions in the oil industry. Inspired by William Brothers (WILLBROS, as many people know it) one of the most respected oil services companies at the time ,Ken Etete had the opportunity to work straight from school with WILLBROS on some major projects along with some bosses.
Most people also consider Ken as a Local Content Champion especially in the light of the Local Content Act being a boon for local oil servicing companies in Nigeria.
Earlier this year, Century Energy Group partnered with Energy Link Infrastructure (ELI) to complete, operate, and maintain the ELI AKASO floating storage and offloading (FSO) terminal in Oil Mining Lease (OML) 18.
The project, located in the Eastern Niger Delta region of Nigeria, is part of the Alternative Crude Oil Evacuation System’s (ACOES) infrastructure, which aims to enhance crude oil commercialisation by reducing crude losses associated with existing export routes.
Furthermore, CG deployed its personnel, infrastructure, and expertise towards the engagement and is scheduled to complete the spread-mooring for the ELI Akaso .
Also, Century Group was responsible for the daily operations and management of the FSO ELI AKASO terminal, which has a storage capacity of 2 million barrels of oil and will serve as a dedicated crude oil storage and export terminal for OML holders and Marginal Field producers in the Eastern Niger Delta, including the OML 18 JV, and other stranded satellite fields.
While working with companies like Chevron, Total, and Conoil, Century Grouptook on the FPSO for NPDC after competing with international service providers like Saipem in early 2009, and took over the project in 2010. This process emboldened them to take up more opportunities. They struck a deal with Shell to run Kidney Island which was an abandoned facility. Having provided services for about 8 years, they were becoming a major force in supporting field development and production operations; the opportunity was there, as well as sufficient manpower.
Their FPSOs have total installed process capacity of80 kbopd of oil and 80mmscfd for gas while total installed capacity under their management is 300 kbd of oil and 300 mmscfd for gas. Total storage capacity under their management is more than 4 mmbbls. CESL remains the only company in Nigeria and only (non-IOC) in Africa with Terminal Export Operations able to, at peak production, offload 2 cargos of Suez max size back to back in a week / simultaneously with 99% uptime. It is also the only Nigerian company (non-Shell) operating a disconnectable turret designed to Australian standards in Nigeria.
CESL currently boasts total manpower in excess of 1,000 with a daily operational spend in excess of USD200,000. It is also the only FPSO provider managing a shore base in the Port of Kidney Island and the Lagos Naval dockyard. Today, total Asset value under CESL management in oil and Gas infrastructure is well over UD $4 billion.
CESL has facilitated the Yinka Folawiyo Petroleum (YFP) Operation and Maintenance of the Front Puffin FPSO at OML 113 in the Benin Basin for a period of six years from 2014 to date – helping bring Lagos state to the table of oil-producing states in Nigeria.
From 2002 ,Century Group has directly and indirectly participated in about 50 valuable and impactful energy projects worth over $ 2 Billion. With a cumulative daily production of about 200,000 bpd from all its operated locations. CESL currently has power generating capacity of 100mw and Gas handling capacity of 500mscf/d from their numerous operated locations.
CESL’s sister company – CPTL – holds a 15-year Licence to operate the Shell owned Island Offshore Logistics support base.
This service is impacting other Shell JV partners including TOTAL & ENI. The facility provides adequate storage facilities, including open storage areas, warehouses, chemical sheds, office accommodation and support base services covering the spectrum from stevedoring, materials and inventory management, haulage, marine agency and bespoke supply chain management solutions. Current clients include SPDC, Moni Pulo, Folawiyo Aje Services Ltd, Gas group, Erin Petroleum, Omak Marine, Shebah Exploration & Production, Hydrodive Nig. Ltd, Topaz Marine Ltd.
CESL has since 2008, provided Shell Petroleum Development Company (SPDC) 2 with Engineering services and project management support for the repairs of SPDC-owned offloading buoy terminal in Bonny Island.
The company has also facilitated technical skills training for Gbarain Ubie and Afam/Okoloma Youths between 2006 – 2008 on behalf of SPDC.
CESL’s Bumi Armada Berhad 1 has provided Operation & Maintenance as well as Procurement &Logistics support of the Armada Perdana FPSO, for Oyo field development on behalf of CAMAC/ENI since 2009 till date. It has also provided since 2008 till date, Operation & Maintenance as well as Procurement &Logistics support of the Armada Perkasa FPSO.
With his rich experience in executing and delivering value on high risks project, Ken Etete has consistently proven to be one of Nigeria’s most dependable CEOs to do business with.
