Nigeria has enhanced its crude oil export capacity with the completion of the Otakikpo onshore terminal by Green Energy International Limited (GEIL), marking the country’s first privately built and operated onshore crude export terminal in over 50 years. Located in Rivers State’s Otakikpo marginal field, the terminal completed its first crude export on June 8 via a Shell-chartered vessel. GEIL Chairman, Prof. Anthony Adegbulugbe, praised the achievement as a historic milestone for Nigeria and African-owned energy firms.
The facility has an initial storage capacity of 750,000 barrels, expandable to three million, and can pump 360,000 barrels per day. The project was completed in under two years.GEIL revealed that over $400 million has been invested in the first phase of the Otakikpo terminal project, with total development costs expected to exceed $1.3 billion. The terminal can receive up to 250,000 barrels of crude daily, though current production from the Otakikpo field is around 10,000 barrels per day. Strategically located, the facility offers a solution for evacuating crude from over 40 nearby stranded oil fields, which hold an estimated three billion barrels of oil equivalent.
Experts believe the terminal will boost Nigeria’s crude output, reduce reliance on offshore terminals, attract new investments, and strengthen the country’s position in the global energy market. GEIL emphasized the terminal’s role in advancing Nigeria’s long-term energy goals.
