Nigeria: The very first onshore oil terminal comes into operation
The first locally designed and operated onshore oil terminal has been commissioned in Nigeria. The loading of the first quantities of crude onto a tanker was carried out at the Otakikpo terminal, with a capacity of 360,000 barrels per day, reported The Nation newspaper.
The site was built by the Nigerian company Green Energy International Ltd., which operates the Otakikpo oil field in the southeast of the country. The terminal has a storage capacity of 750,000 barrels, with the possibility of expanding to 3 million barrels. Investments already exceed 400 million dollars and are expected to reach 1.3 billion.
According to analysts, this news signifies decisive changes in Nigeria’s oil industry, where until now almost all production was handled by foreign companies, notably American and French, notes the newspaper. The oil is extracted on offshore platforms, which are also connected to the terminals.
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