Green Energy International Unveils Game-Changing $400 Million Oil Terminal
Green Energy International Limited (GEIL) is poised to revolutionize Nigeria’s crude oil evacuation capabilities with the imminent unveiling of its $400 million Otakikpo oil terminal, marking a historic first for any private indigenous oil company in the country.
Located strategically near the Ogoni and Opobo fields in Rivers State, this massive facility promises to unlock over 40 stranded oil fields in the region while significantly contributing to Nigeria’s economic growth. The terminal boasts impressive specifications including 750,000 barrels of oil storage capacity, expandable to 3 million barrels, and 360,000 barrels per day pumping capability.
Professor Anthony Adegbulugbe, Chairman of Green Energy, revealed during a facility tour with journalists and Independent Petroleum Producer Group members that the terminal was completed two years ahead of schedule. Remarkably, over 90 percent of the contract value involved indigenous contractors, with civil works constructed by the Okan-Ama of Ikuru town, an Andoni King committed to community development.
The facility’s strategic positioning offers significant advantages, located just 6 to 13 kilometers from the Opobo and Ogoni fields, compared to the 60-kilometer distance to the nearest existing evacuation infrastructure. This proximity creates opportunities for third-party producers while fostering economic inclusion and job creation throughout the Niger Delta.
Adegbulugbe emphasized that the terminal represents hope for Nigeria’s oil industry to become fully indigenous while executing world-class projects. He identified five additional terminals that must be rapidly constructed to support President Tinubu’s renewed hope agenda, expressing GEIL’s eagerness to partner with NNPC to redefine global energy leadership.
Executive Secretary of IPPG, Oyeleke Banmeke, described the completion as “nothing short of a miracle,” highlighting how the facility addresses Nigeria’s critical infrastructure deficit across the entire oil and gas value chain while ensuring reliability, availability, and resilience.
Source: thisdaylive.com