Green Energy International (GEIL) has completed the first crude oil export from its Otakikpo onshore terminal in Nigeria, reported the Nigerian Observer.
The inaugural shipment was facilitated on 8 June, with a vessel chartered by Shell transporting the maiden cargo from the terminal in Rivers State’s Otakikpo marginal field.
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The Otakikpo terminal is reportedly the first privately constructed and managed onshore crude export terminal in Nigeria in more than five decades.
GEIL chairman Anthony Adegbulugbe said: “We are deeply grateful to all our partners and commend the dedication of our indigenous technical team, who worked relentlessly to bring this project to life. This is a moment of pride for Nigeria and a milestone for African-owned energy enterprises.”
The terminal currently has a storage capacity of 750,000 barrels and is equipped to handle the export of 360,000 barrels per day (bpd).
GEIL has plans to expand the storage capacity to three million barrels, the report said.
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By GlobalDataThe project’s initial phase saw an investment of more than $400m (£295.34m), with total development costs expected to surpass $1.3bn.
Designed to accommodate up to 250,000bpd of crude, the Otakikpo field’s present production is around 10,000bpd.
GEIL pointed out that the terminal provides a strategic solution for the evacuation of crude from more than 40 nearby stranded oilfields, which together are estimated to hold more than three billion barrels of oil equivalent.
Otakikpo terminal is expected to boost Nigeria’s crude production, lessen reliance on offshore terminals and encourage new investments in the nation’s oil sector.
With the global demand for African crude increasing, the terminal is poised to draw more investor interest and strengthen Nigeria’s position in the international energy market.
GEIL emphasised that the Otakikpo facility is set to play a crucial role in enhancing crude evacuation and supporting production growth, aligning with Nigeria’s long-term energy strategy.
