Tinubu to Commission $400m Indigenous Crude Oil Terminal in Rivers

Tinubu to Commission $400m Indigenous Crude Oil Terminal in Rivers



President Bola Tinubu is set to commission the $400 million Otakikpo Onshore Crude Oil Export Terminal in Rivers State on October 8, marking the first new crude export facility built in Nigeria in over 50 years. 

Developed by Green Energy International Limited (GEIL), operators of the Otakikpo field in OML 11, Ikuru town, Andoni Local Government Area, the terminal represents a milestone as the nation’s first wholly indigenous onshore facility, ending decades of reliance on foreign-built infrastructure.   

 

 

The inauguration will draw high-profile attendees, including Minister of State for Petroleum (Oil) Senator Heineken Lokpobiri and Rivers State Governor Siminalayi Fubara, along with key oil and gas stakeholders. 

In a statement, GEIL’s Executive Director of Legal and Corporate Services, Olusegun Ilori, highlighted how the project supports Tinubu’s agenda to increase crude oil output and resolve longstanding evacuation bottlenecks.   

Equipped with an initial storage capacity of 750,000 barrels—expandable to three million—and a loading rate of 360,000 barrels per day, the terminal is poised to provide a vital evacuation route for over 40 nearby stranded fields holding billions of barrels of oil equivalent. 

This development could unlock trapped reserves, lower production costs for local operators, and revitalize underdeveloped areas like the Ogoni and Opobo fields. 

GEIL Chairman Prof. Anthony Adegbulugbe called it a “game-changing national infrastructure,” emphasizing its role in fostering economic inclusion, job creation in the Niger Delta, and third-party access for producers.   

  

The initiative aligns with broader efforts to combat challenges such as pipeline vandalism, oil theft, and declining output, restoring investor confidence in Nigeria’s vital oil sector.  

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Source: Nigerianeye

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