President Bola Ahmed Tinubu has commended the leadership of Green Energy International Limited (GEIL) for its innovation in the Nigerian oil sector at the just commissioned crude oil export terminal in Otakikpo, Rivers State.
The crude export terminal which is the first by a Nigerian company, and the only one built in the country in over 50 years will open an efficient evacuation outlet for marginal and stranded fields across the Niger Delta region, unlocking billions of barrels of reserves and creating value for the economy, which is also a core focus of the President.
Commending the management of GEIL, the President assured the company and other operators that are keeping to the terms of their licenses of total support and collaboration. He noted that the project represented a new and positive chapter in Nigeria’s oil and gas industry and aligned directly with the core priorities of his administration to ramp up crude oil production by enabling a secure, transparent, and efficient evacuation system.
Speaking through the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, the President added that he was particularly impressed at the company’s vision and implementation of the project, noting that GEIL has shown exemplary leadership and innovation among other indigenous firms who were awarded marginal field operating licenses about the same time.
On his part, the Chairman, GEIL, Prof. Anthony Adegbulugbe thanked the President for his unwavering support. He added that the terminal was conceived, designed and implemented wholly by Nigerians and was completed within a record time of 2 years.
According to him, the facility will “open the door to more than 40 stranded fields in the region with over 3 billion barrels of reserves, long held back the lack of export infrastructure. These fields alone could contribute more than 200,000 barrels per day to Nigeria’s production”
