Mkpoikana Udoma
Port Harcourt — The newly inaugurated Otakikpo Onshore Crude Oil Export Terminal in Rivers State would unlock millions of barrels of crude from over 40 stranded marginal fields across the Niger Delta, providing a lifeline for indigenous producers.
The $400 million facility, developed by Green Energy International Limited, GEIL, has a pumping capacity of 360,000 barrels per day and storage of 750,000 barrels, enabling operators without export pipelines to move their crude efficiently to international markets.
Speaking on behalf of President Bola Ahmed Tinubu recently, the Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri, described the facility as a “transformational project” that would boost production and unlock stranded reserves.
“Beyond serving GEIL, it stands ready to support other companies operating in its vicinity, a true symbol of indigenous excellence and shared infrastructure,” the Minister said.
Lokpobiri reaffirmed that the Federal Government’s goal under the Petroleum Industry Act, PIA, is to maximize the value of national hydrocarbon resources by encouraging collaboration among indigenous players.
“This terminal represents the kind of shared infrastructure that drives sustainable growth, increases efficiency, and opens up new opportunities for small field operators,” he added.
The terminal could increase Nigeria’s daily export volume and attract fresh capital into underdeveloped onshore assets, revitalizing Nigeria’s midstream capacity.
