This facility marks the first time in over 50 years that a privately built and operated onshore crude oil export terminal has been commissioned in Nigeria, underscoring a significant shift toward private sector participation in the country’s oil and gas infrastructure.
According to GEIL Chairman, Professor Anthony Adegbulugbe, the export represents a landmark achievement not only for the company but for Nigeria’s broader energy ambitions. In a statement issued on Sunday, he credited the successful execution to divine providence, the commitment of GEIL’s technical team, and robust collaboration with regulatory authorities.
“This is a proud moment for Nigeria and for African-owned energy ventures,” Adegbulugbe stated, praising the indigenous workforce and the company’s partners for their roles in bringing the terminal to life.
Constructed in under two years, the terminal currently offers a crude storage capacity of 750,000 barrels, with expansion plans that could increase its capacity to three million barrels. It boasts a pumping rate of 360,000 barrels per day for loading export tankers and is designed to handle up to 250,000 barrels per day of crude injection.
Although current production from the Otakikpo field stands at approximately 10,000 barrels per day, the terminal's capacity and location position it as a strategic hub. GEIL noted that the facility can serve over 40 nearby stranded oil fields, estimated to contain more than three billion barrels of oil equivalent—resources that have remained largely untapped due to logistical challenges.
With over $400 million invested in the terminal’s initial phase and total project development expected to exceed $1.3 billion, GEIL’s efforts are seen as a bold move to revitalize Nigeria’s midstream oil sector.
Industry observers have hailed the development as a potential game-changer. By offering an alternative to aging offshore export terminals, the Otakikpo facility could help boost Nigeria’s oil output, reduce bottlenecks in crude evacuation, and enhance investor confidence in the sector.
In light of increasing global demand for African crude, the terminal is expected to draw further investment and play a key role in advancing Nigeria’s long-term energy strategy. GEIL emphasized that the Otakikpo terminal aligns with national goals to modernize oil infrastructure and promote indigenous participation in the energy value chain.
As the country grapples with the dual challenge of improving production efficiency and attracting capital, the success of projects like Otakikpo may offer a blueprint for the future of Nigerian energy.