History as Nigeria’s First Indigenous Oil Terminal Makes First Crude Export

Emmanuel Addeh in Abuja 

History was made yesterday when the new Otakikpo crude oil terminal, built by Green Energy International Limited (GEIL), operator of the Otakikpo oilfield in Rivers state, concluded its first export through the $400 million facility.

It’s the first onshore crude export terminal to be constructed by an indigenous company as well as the first in over five decades to be built by any operator in the country, including the International Oil Companies (IOCs).

The maiden cargo from the terminal was lifted by an off-taker vessel, MV by Shell, at 14.00 hours, a proof of the successful construction and operational readiness of the terminal, a statement from the company said.

Congratulating all the parties involved in the technical test-run of the facility, Chairman of  Green Energy International Limited, Prof. Anthony Adegbulugbe,  appreciated God for making the operations successful.

He also lauded  the resilience of the entire indigenous staff of the company who pulled through the complex endeavour. Besides, he expressed the gratitude of the company to all  the regulatory agencies  who supported and supervised what he described as tan epoch event.

The newly constructed terminal boasts an initial storage capacity of 750,000 barrels, with potential expansion to 3 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 in recent times.

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 stated that its commitment to expanding Nigeria’s oil export infrastructure is already evident.

Furthermore, the Otakikpo terminal is designed to accommodate up to 250,000 barrels per day of crude injection, while the Otakikpo oilfield currently produces around 10,000 barrels per day. 

This, it said, opens strategic opportunities for third-party producers, particularly over 40 nearby stranded fields estimated to hold more than 3 billion barrels of oil equivalent (BOE). GEIL’s infrastructure provides cost-effective evacuation for stranded oil, positioning Nigeria for increased production and export growth, the company added.

The Otakikpo terminal is seen as a game-changer for Nigeria’s oil sector, especially due to its potential to significantly boost output while reducing dependence on offshore export terminals. With rising global demand for African crude, the terminal is poised to attract more investors and strengthen Nigeria’s position in the international energy arena.

As Nigeria continues to modernise its oil infrastructure, the successful completion of GEIL’s Otakikpo crude oil terminal underscores the country’s capacity for innovative energy solutions, fostering sustainable growth for years to come.

Nigeria has a huge crude oil export evacuation problem, which contributes significantly to production shortfalls and revenue losses as well as hindering the country’s ability to export its crude efficiently and reliably.