Business
UTM Offshore FLNG Achieves Global Recognition as Top 20 Energy Project
UTM Offshore FLNG earns top 20 oil and gas project ranking in Sub-Saharan Africa, poised to boost Nigeria’s gas sector with its first floating LNG facility
UTM Offshore FLNG has been named among the top 20 oil and gas construction projects in Sub-Saharan Africa, a recognition that highlights its potential to reshape Nigeria’s gas industry and strengthen its global energy footprint.
Also read: Nigeria Oil Production 2025 Surges Past 1.8m bpd, Boosting Budget Hopes
The accolade was conferred by Adron Mason, a Washington DC–based policy analyst, who praised the project’s scope and expected impact.
Located offshore in Akwa Ibom State, the \$2 billion facility will process 324 MMSCF/D of natural gas and produce LPG, condensate, and 2.8 million tonnes of LNG annually.
Originally licensed in 2019 for 1.2 million tonnes per annum, capacity was expanded to 2.8 million tonnes in response to rising LNG demand.
Nigeria, with an estimated 200 trillion cubic feet of untapped gas reserves, aims to reduce reliance on oil and cut waste from gas flaring.
Also read: Nigeria Upstream Oil Resurgence Boosts Output, Revenue, Investor Trust
Founded by Julius Rone in 2012, UTM Offshore is spearheading Nigeria’s first floating LNG project, slated for commissioning in 2028, with first gas production expected in 2029.
Africa’s technology ecosystem has produced innovative fintech, e-commerce and digital service companies. But there is another important part of the technology value chain that deserves attention: semiconductor engineering.
ChipMango is developing capabilities in chip design, verification and emerging hardware technologies. Its story demonstrates the kind of specialised innovation that deserves greater investment and attention.
Through Boost Africa, a joint initiative of the European Investment Bank (EIB) and African Development Bank, supported by the EU, the EIB helps channel investment through venture capital funds to innovative African enterprises. Discover how this
investment ecosystem is helping create opportunities for businesses working on Africa’s technological future.
Watch the video:
From smartphones and laptops to vehicles and AI systems, semiconductors are essential to modern technology. Yet, the expertise required to design these components remains concentrated in a relatively small number of global
technology hubs.
ChipMango is working to expand access to semiconductor engineering skills and commercial opportunities for African engineers. Its journey also highlights why initiatives such as EIB’s Boost Africa matter. By supporting venture capital funds investing in innovative African businesses, Boost Africa helps strengthen the financing ecosystem needed to develop specialised technology companies. Watch the video to learn how ChipMango is contributing to Africa’s place in the global technology industry.
Watch the video:
Business
ChipMango: Building Nigeria’s Semiconductor Engineering Capabilities for the Global Tech Industry
Africa’s participation in the global technology industry should go beyond
using digital products and services.
African engineers also have an opportunity to contribute to the technologies themselves, including the semiconductors that power smartphones, computers, vehicles and artificial intelligence.
Nigerian semiconductor technology company ChipMango is working to develop this capability by connecting engineering education with practical chip-design and verification projects.
Through its investment in African venture capital funds, the European Investment Bank (EIB), under the Boost Africa
initiative, is helping strengthen the ecosystem that supports innovative businesses like ChipMango.
Boost Africa is a joint initiative of the EIB and African Development Bank, supported by the European Union.
Watch the video to discover ChipMango’s story and the opportunities it is helping create.
Watch the video:
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