Green Energy International Limited (GEIL) unveils its $400 million Otakikpo oil terminal in Rivers State, set to significantly alleviate Nigeria’s crude evacuation challenges and unlock stranded oil fields
[dropcap]I[/dropcap]n a monumental development poised to significantly reduce Nigeria’s crude evacuation challenges, Green Energy International Limited (GEIL) has officially unveiled its $400 million Otakikpo oil terminal.
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This landmark facility is the first of its kind to be built by a private indigenous oil company in Nigeria, marking a new era for the country’s energy sector.
Located near the Ogoni and Opobo fields in Rivers State, the unveiling of the terminal represents a crucial opportunity for over 40 stranded fields in the area to finally contribute to the Nigerian economy.
A substantial volume of Nigeria’s oil in the Niger Delta has long been stranded due to a lack of adequate evacuation routes for export, severely impacting the nation’s ability to monetize its oil resources and leading to significant economic, operational, and security implications.
The Otakikpo terminal boasts an impressive 750,000 barrels of oil storage capacity (expandable to 3 million barrels) and a 360,000 barrels per day pumping capability.
It offers a secure and efficient evacuation route for the region’s oil reserves. Designed to handle up to 250,000 barrels per day of crude injection, the facility also presents a vital opportunity for third-party producers, fostering economic inclusion and job creation within the Niger Delta.
A key strategic advantage of the facility is its proximity; the Otakikpo terminal is merely 6 to 13 kilometres from the Opobo and Ogoni fields, which are otherwise more than 60 kilometres from the nearest evacuation and export infrastructure.
Prof. Anthony Adegbulugbe, Chairman of Green Energy, revealed during a tour of the project for journalists and members of the Independent Petroleum Producer Group (IPPG) that the “humongous facility” was completed two years ahead of schedule.
He lauded the tireless efforts of Green Energy staff and service providers who worked on the Otakikpo onshore terminal, noting it is the first such facility constructed in decades in Nigeria.
This historic and critical national infrastructure was delivered ahead of schedule… It is proof that Nigerian companies can execute world-class projects, drive industry transformation, and set new benchmarks for operational excellence.
“It is noteworthy that more than 90 per cent of the contract value of this national asset was handled by indigenous contractors, and the beautiful edifices and civil works were constructed by the king of the community, the Okan-Ama of Ikuru town. A proud Andoni King, a lover of his people,” Adegbulugbe stated.
He further emphasized the project’s significance: “This historic and critical national infrastructure was delivered ahead of schedule in what I believe is a clear statement of intent by our country and Nigerian indigenous E&P companies to the international community that Nigeria is ready to play a leading role in the global energy security and its own prosperity. It is proof that Nigerian companies can execute world-class projects, drive industry transformation, and set new benchmarks for operational excellence.”
Prof. Adegbulugbe articulated the broader vision: “To me, to my company, to the community, to our dear country, this terminal represents more than steel and storage tanks… It represents hope—the belief that Nigeria’s oil industry can be fully indigenous, execute world class projects and drive industry transformation. It represents opportunity—an open door for over 40 stranded fields to finally contribute to our economy. It represents a promise—a promise to the communities that host the Ogoni and Opobo assets that their resources will not be neglected for one more day.”
He asserted that increasing Nigeria’s daily crude production beyond 3 million barrels per day would be challenging without debottlenecking the country’s E&P’s upstream and midstream infrastructure.
To achieve this, he called for an “unbreakable alliance” between the NNPC and indigenous operators to quickly unleash the full potential of Nigeria’s resources.
Adegbulugbe revealed that GEIL has identified five more such terminals that need rapid construction to support President Tinubu’s “renewed hope agenda,” expressing GEIL’s eagerness to partner with NNPC to redefine Nigeria’s role as a global energy leader.
Oyeleke Banmeke, Executive Secretary of the IPPG, described the facility’s completion as “nothing short of a miracle,” expressing deep impressioin from the IPPG executives.
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He highlighted the terminal’s critical role in energy security, reliability, availability, and resilience of oil infrastructure, stressing that Nigeria needs more such facilities to enhance access to the global market.
Peculiar Adirika is a journalist and contributor to Freelanews.com, covering news, business, and public affairs.
