The Edo Refinery has received a total of 15,000 barrels of crude oil in 2024 for production from the Oza Oil Field operated by Decklar Resources Inc. and Millenium Oil and Gas Company Limited.
The Chief Executive Officer of Decklar Resources, Sanmi
Famuyide, who disclosed this in a statement on Wednesday, noted that the
company has continued ongoing crude oil injection volumes into the Trans Niger
Pipeline for transport to and export from the Bonny Export Terminal.
The refinery was developd by the Edo Refinery and
Petrochemical Company Limited and was facilitated through a Memorandum of
Understanding between Governor Godwin Obaseki-led State Government and AIPCC.
It Is a 6,000bpd capacity plant, which is being expanded to
21,000bpd.
The facility with its feedstock can produce 500,000 litres
of diesel, 300,000 litres of Naphtha, and 200,000 litres of low-pour fuel oil.
He said, “We are very pleased to announce the significant
milestone of the first crude oil exports from the Oza Oil Field through the TNP
and Bonny Export Terminal. In addition, crude oil is still being trucked to the
local refinery customer in Edo State.
“The restoration and continued operation and availability of
the Trans Niger Pipeline connection between the Oza Oil Field and the Bonny
Export Terminal and delivery and sales of crude oil to the local refinery has
allowed Decklar and Millenium to deliver a steady stream of crude oil to market
and to generate a continuing revenue stream.
“With continued revenues, the Company’s financial position
will improve enabling progress with additional field development activities
including re-entries and drilling plans. In addition, the approximately 8,000
barrels of crude oil Decklar and Millenium previously delivered to the Forcados
export terminal is expected to have a vessel nomination in the next few weeks
with export and sales coming thereafter.”
Noting that the crude oil produced from the field is sold to
Shell Western Supply and Trading Limited (Shell), he added, “Crude oil
production from the Oza Oil Field through the TNP to the Bonny Export Terminal
is being sold to Shell Western Supply and Trading Limited (“Shell”). Crude oil
held in storage at the Oza Oil Field and crude oil being produced into storage
tanks from the Oza-1 and Oza-4 wells is being transported by truck a short
distance in-field to the transfer pumping station at the Oza Oil Field for
injection into the TNP.
“The first crude oil export cargo of 15,000 bbls to Shell has loaded on board a vessel with a bill of lading date of February 7, 2024, with sales proceeds expected in the last week of March. Decklar and Millenium are expecting another crude oil export nomination notice from Shell before the end of March 2024 for the export of another 15,000 barrels of crude oil currently held in the Bonny Export Terminal tanks.”
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