NNPC Ltd. has announced the introduction of Utapate Crude Oil Blend, a new crude oil grade, into the international crude oil market.
A statement signed by NNPC Chief Corporate Communications Officer (CCCO), Femi Soneye, and made available to the Nigerian Tribune said the 28,000 barrels per day facility located offshore Akwa Ibom State, South-South Nigeria, will contribute in no small way to Nigeria’s oil output in the international market as well as increase the country’s crude oil production and grow reserves.
“NNPC Ltd. has announced the introduction of Utapate crude oil blend, a new crude oil grade, into the international crude oil market.
“From Oil Mining Lease (OML) 13, fully operated by NEPL, NNPC Ltd’s upstream subsidiary, the Utapate crude oil blend commenced operations in July 2024 as its first cargo headed for Spain.
“Located offshore Akwa Ibom State in Nigeria, Utapate’s current crude oil production is at 28,000 barrels per day, with the potential to increase it to 50,000 barrels per day. Also, the sulphur content of the new crude is 0.0655%.
“Spanish oil giant Repsol won the tender for the initial cargo of the new crude blend, which is comparable to the much-sought-after Amenam crude.
“Gulf Transport and Trading, another leading crude oil dealer, has also secured the cargo tenders for August and September 2024.
“During the Argus European Crude Conference in London last year, NNPC Ltd. announced the launch of Nembe crude oil, produced by the NNPC/Aiteo-operated Oil Mining Lease (OML) 29 Joint Venture (JV).
“Similar to the Nembe crude oil grade, the Utapate crude oil blend has a low sulphur content and low carbon footprint due to flare gas elimination, fitting perfectly into the requirements of major buyers in Europe.
“This remarkable achievement signals the commitment of NNPC Ltd. to increase Nigeria’s crude oil production and grow reserves through the development of new assets,” the statement read.
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