President Bola Ahmed Tinubu is scheduled to inaugurate the 400 million dollars Otakikpo Onshore Crude Oil Export Terminal in Rivers State on Wednesday October 8th, the first new crude export facility to be built in Nigeria in over 50 years.
The terminal, developed by Green Energy International Limited (GEIL), operators of the Otakikpo Field in OML 11, Ikuru Town, Andoni Local Government Area, is the country’s first wholly indigenous onshore terminal.
The last such facility, the Forcados Terminal, was commissioned in 1971.
According to a statement signed by GEIL’s Executive Director, Legal and Corporate Services, Olusegun Ilori, the terminal aligns with President Tinubu’s drive to boost crude oil production and address Nigeria’s long-standing evacuation challenges.
The event is expected to draw top government officials, including the Minister of State for Petroleum (Oil), Senator Heineken Lokpobiri, Rivers State Governor Siminalayi Fubara, and key players in the oil and gas industry.
According to GEIL, the project supports the federal government’s agenda to boost crude oil production, reduce costs and tackle evacuation challenges that have long hindered Nigeria’s ability to meet its production.
Chairman and Chief Executive of GEIL, Professor Anthony Adegbulugbe, described the project as a major national infrastructure milestone with the potential to reshape Nigeria’s oil production landscape.
The commissioning comes as the federal government seeks fresh strategies to combat declining output, pipeline vandalism, oil theft, and other challenges plaguing Africa’s largest oil producer.
-9News Nigeria.
