Pinnacle Oil and Gas Limited, a market leader in the Nigerian and African downstream petroleum sector, has been conferred with the special award of the Oil and Gas Company of the Year 2022 by the Africa Advancement Forum (AAF).
The certificate of honour containing the special recognition to Pinnacle, which was approved by the advisory board and management of AAF was presented to the downstream major at the award ceremony held in Lagos.
The award adds to the pool of accolades, endorsements and commendations being received by Pinnacle in recognition of its massive investments and disruptive innovation in the Nigerian downstream oil and gas industry, which has transformed the sector significantly.
The company’s $1 billion ultra-modern offshore subsea bi-directional offtake and intake petroleum terminal located at the Lekki Free Zone Lagos, was unveiled last month by President Muhammadu Buhari to the delight of industry stakeholders.
The facility which is the first of its kind in Nigeria and West Africa, comprises the Single Point Mooring facility (SPM) and the Conventional Buoy Mooring facility (CBM). It has made it possible for large vessels known as Mother vessel to be berthing and discharging products directly at Nigerian Ports.
The coming on stream of the transformative facility has ended the era of multiple handlings at the ports due to the use of Daughter vessels with associated inefficiencies, high costs and congestion of Apapa Port and roads.