President Bola Tinubu will on October 8 commission the $400 million Otakikpo Onshore Crude Oil Export Terminal in Rivers State, the first new crude export facility built in Nigeria since 1971.
Developed by Green Energy International Limited (GEIL), operators of the Otakikpo field in OML 11, the terminal is Nigeria’s first wholly indigenous onshore crude export facility. With an initial 750,000-barrel storage capacity (expandable to 3 million) and a loading capacity of 360,000 barrels per day, it is designed to ease evacuation bottlenecks and reduce production costs.
The project is expected to unlock output from over 40 stranded oil fields, aligning with Tinubu’s push to raise national production and cut costs. GEIL Chairman Prof. Anthony Adegbulugbe hailed it as a “game-changing national infrastructure.”
The inauguration will draw senior government officials, including Petroleum Minister Heineken Lokpobiri and Rivers State Governor Siminalayi Fubara, alongside key oil and gas stakeholders.
