By Foluso Ogunsan
Green Energy International (GEIL) moved on to site for the construction of an onshore terminal and export infrastructure, the first by any indigenous E& P company in Nigeria.
The facility will have the capacity to hold 750,000 Barrels of Oil at any time. This is expandable to 3Million barrels of crude.
It is the second phase of oil field development, a project that the company embarked on a few weeks after completing the first phase.
The first phase ended with the completion and hook up of two new wells the company drilled on the Otakikpo field, which has raised production capacity from 5,000Barrels of Oil Per Day (5,000BOPD) to over 12,000BOPD.
“The team has worked extremely hard this year to complete the terminal project design in-house and negotiate more favorable terms with service providers to reduce the overall cost of the project considerably”, says Professor Anthony Adegbulugbe, GEIL’s Chief Executive Officer.
“The development of the onshore terminal and export infrastructure is in line with our corporate strategy of developing and installing an efficient evacuation/export system at Otakikpo, thus reducing overall OPEX dollar per barrel ($/bbl). We also plan to make the Otakikpo field a crude processing and export hub by providing access to fit-for-purpose evacuation and export infrastructure for the several stranded fields in the Eastern Niger Delta area. There are over 20 stranded fields in close proximity to the terminal that will benefit from it.”
Kayode Adegbulugbe, GEIL’s Chief Operating Officer, weighs in: “What we are building (with CAKASA as our contractor) here is a new Bonny Terminal”, adding, “It’s not just for us, it is for the energy security of the country …it took nine months for the design. And our staff worked with CAKASA to make sure that the cost is the cheapest in the world.
Mr. Adegbulugbe references (Shell Plc’s) Bonny Terminal in his speech to give a sense of the scope of the budding GEIL terminal. The Bonny Terminal is the biggest in Africa with a capacity to process and export 1.25Million Barrels of Oil Per Day. It is situated on Bonny Island, 48 kilometres southeast of Port Harcourt, a port town on the edge of the Atlantic in eastern Nigeria.
“In the terminal we have accommodation, administrative area for 120 personnel, office for 120 personnel, and it is expandable. We’re building 23kilometres of pipeline into the ocean, because at the depth, we’ll be at about 25kilometres , that’s the depth at which the export tankers can berth and load. The COO explains that ‘the Green Energy 2026 Story’ as he calls it, “may not have been possible without the impeccable efforts of yet another Nigerian organisation, Fidelity Bank, which structured a loan of $250Million for two phases of our project in record time of less than eight months. This is a most unprecedented feat”.