By Obas Esiedesa, Abuja
Indigenous firm, Green Energy International Ltd, GEIL, operator of Otakikpo field, made history yesterday as it concluded the first oil export from the Otakikpo terminal in Rivers State.
The new Otakikpo crude oil terminal, the country’s first indigenous onshore crude export facility in over five decades, cost over $400 million to build.
A statement from the company disclosed that the first cargo from the terminal was lifted by off-taker vessel MV by Shell, by 14.00 hours, a proof of the successful construction and operational readiness of the terminal.
Congratulating all the parties involved in the technical test run of the facility, Chairman of Green Energy International Limited (GEIL) Prof Anthony Adegbulugbe, appreciated God for making the operations successful and the resilience of the entire indigenous staff of the company who pulled through the complex endeavours.
He also expressed the gratitude of the company to “all the regulatory agencies who supported and supervised the epoch event.”
The newly constructed terminal boasts an initial storage capacity of 750,000 barrels, with potential expansion to three million barrels.
It also features a 360,000 barrels per day pumping capacity for loading export tankers, making it one of the most significant infrastructure projects in Nigeria’s energy landscape.
Adegbulugbe said the project, completed ahead of schedule in under two years, has already made history as the first privately developed crude oil terminal by an African operator.
“With an initial investment exceeding $400 million and a full-phase development projection of $1.3 billion, GEIL’s commitment to expanding Nigeria’s oil export infrastructure is evident.
“The Otakikpo terminal is designed to accommodate up to 250,000 barrels per day of crude injection, while the Otakikpo field currently produces around 10,000 barrels per day. This opens strategic opportunities for third-party producers, particularly over 40 nearby stranded fields estimated to hold more than three billion barrels of oil equivalent (BOE)”, the company added.
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