Nigeria Launches First Indegenous Crude Oil Terminal

Nigeria’s finally getting its own crude oil export terminal, and it’s about time! Located in Otakikpo, Rivers State, this terminal is set to change the game in the oil and gas sector. For years, we’ve been relying on foreign-built terminals, but now we can proudly say we have our own.

The terminal, built by Green Energy International Limited, has a storage capacity of 750,000 barrels and can be expanded to 3 million barrels. It’s a major win for Nigeria, Africa’s largest oil producer, and it’s expected to boost our economy.

The chairman of GEIL, Prof. Anthony Adegbulugbe, said it’s a project whose time has come, and we’re excited to see it finally happening. With this terminal, we can now compete favourably in the oil and gas sector and make our mark globally.

The Otakikpo Terminal is designed to cater to four sets of investors which are; Small E&P companies with limited reserves far from export infrastructure can use the trucking option to transport their oil to the terminal, companies with fields around creeks can barge or aggregate their oil to the terminal, companies with fields 20km offshore can use the bi-directional pipeline to transport their oil to the terminal and companies around 40km from the terminal can also use the pipeline, reducing the risk of oil theft.

The terminal’s design includes three-phase, multipurpose pipelines to ensure safety and reduce vandalism. According to Prof. Adegbulugbe, this will give investors confidence in the security of their oil.

President Tinubu who inaugurated the terminal, stating it’s a new chapter in Nigeria’s oil and gas industry, aligning with his administration’s priorities to boost crude oil production. The terminal will provide an efficient evacuation outlet for marginal and stranded fields, unlocking billions of barrels of reserves.

The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Mr Gbenga Komolafe, described the terminal as historic, expanding Nigeria’s crude export infrastructure and demonstrating Nigerian operators’ capacity to deliver world-class projects.

The Otakikpo Terminal is equipped with a storage capacity of 750,000 barrels, expandable to 3 million barrels, and a pumping capacity of 360,000 barrels per day, it’s set to change the game in Nigeria’s oil and gas industry.  Prof. Adegbulugbe said it’s a catalyst for national renewal, opening doors for over 40 stranded fields with over 3 billion barrels of reserves. That’s a potential 200,000 barrels per day contribution to Nigeria’s production.

The terminal is a testament to Nigerian innovation and expertise, with 100% local talent involved in its design and construction. It’s a proud moment for Nigeria, showing we can deliver world-class projects. The facility is massive, with state-of-the-art equipment, and supports up to 250,000 barrels per day of crude injection. It’s already processing 10,000 barrels per day from the Otakikpo field and offers opportunities for third-party producers.

This terminal is a game-changer, aligning with President Tinubu’s efforts to revitalize the Ogoni and Opobo fields. It’s a significant milestone in Nigeria’s energy landscape, and we’re excited to see its impact What do you think is the biggest benefit of this terminal for Nigeria?