The Belema Sweet Crude Terminal, located in Kula Kingdom, Akuku-Toru LGA of Rivers State, is set to transform crude oil evacuation in the OML 55 corridor. With a two-million-barrel storage capacity and the ability to produce 100,000 barrels per day, the facility will export about 950,000 barrels monthly. Developed by Belema Sweet Export Terminal Ltd, the project aims to provide a secure, long-term alternative to the vandalised Nembe Creek trunkline while addressing local development needs.
If crude sells at a minimum of $50 per barrel, the terminal could yield at least $50 million monthly in government revenue. The Nigerian National Petroleum Company Limited (NNPCL), as a joint venture partner, will be among the primary beneficiaries.
Beyond boosting national revenue, the project will create jobs, supply electricity, build hospitals, and stimulate economic development in Kula Kingdom, a historically neglected oil-rich community. Environmental safeguards, community engagement, and infrastructure upgrades form part of the implementation plan, with operations expected to commence in 2025.
