Oritsegbubemi Omatseyin
Lagos — The Nigerian National Petroleum Company Limited, NNPC, has announced the launch of Utapate crude oil blend, a new crude grade into the international market, with a current production of 28,000 barrels per day, aiming for 50,000.
The new blend is sourced from Oil Mining Lease (OML) 13 and is fully operated by NNPC Exploration and Production, NEPL, the national oil company’s upstream subsidiary.
A statement from the NNPC signed by the Chief Corporate Communications Officer, Olufemi Soneye, said that the first cargo of Utapate crude oil blend has been exported to Spain.
Soneye revealed that the Utapate crude oil blend commenced production in July 2024, marking a significant milestone for the company.
Located offshore Akwa Ibom State in Nigeria, Utapate’s current crude oil production is at 28,000 barrels per day, with potential to increase it to 50,000 barrels per day. Also, the sulphur content of the new crude is 0.0655%
Soneye also disclosed that Spanish oil giant Repsol won the tender for the initial cargo of 950,000 barrels of the new crude blend which is comparable to the much sought after Amenam crude. Gulf Transport and Trading, another leading crude oil dealer, have also secured the cargoes’ tenders for August and September 2024.
He recalled that during the Argus European Crude Conference in London last year, NNPC Ltd announced the launch of Nembe crude oil, produced by the NNPC/Aiteo operated Oil Mining Lease (OML) 29 Joint Venture (JV).
The Utapate crude oil blend which is similar to the Nembe crude oil grade, has a low sulphur content and low carbon footprint due to flare gas elimination, “fitting perfectly into the required spec of major buyers in Europe
According to the statement: “This remarkable achievement signals the commitment of the NNPC to increase Nigeria’s crude oil production and grow reserves through the development of new assets.”
