Victor EzejaA new crude oil grade called Utapate has been unveiled to the global market by the Nigerian National Petroleum Company Limited (NNPCL).
The first cargo of 950,000 barrels of the Utapate crude oil mix was exported to Spain in July from Oil Mining Lease (OML) 13, located in Akwa Ibom State, Nigeria. The OML 13 is run by NNPC Exploration and Production Limited.
Join our WhatsApp ChannelThis was disclosed in a statement by Olufemi Soneye, Chief Corporate Communications Officer, NNPCL.
According to Soneye, Utapate crude oil production is currently at 28,000 barrels per day, with the potential to reach 50,000 barrels per day.
The new crude, according to him, has a sulfur concentration of 0.0655 percent.
Disclosing further details about the Utapate crude oil production and export, the NNPCL spokesperson said Spanish oil giant Repsol won the tender for the first cargo of 950,000 barrels of the new crude blend.
He explained that the Utapate crude blend is “comparable to the much sought-after Amenam crude,” another Nigerian crude blend produced by TotalEnergies in a Joint Venture agreement with NNPCL.
READ ALSO: We’ve Declared War Against Challenges Affecting Crude Oil Production – NNPCL Boss
He added that Gulf Transport and Trading, another leading crude oil dealer, have also secured the tenders for crude supplies in August and September 2024.
Soneye recalled that during the Argus European Crude Conference in London last year, NNPC announced the launch of Nembe crude oil, produced by the NNPC/Aiteo operated OML 29 Joint Venture (JV).
He further stated that “Similar to the Nembe crude oil grade, the Utapate crude oil blend has a low sulphur content and low carbon footprint due to flare gas elimination, fitting perfectly into the required spec of major buyers in Europe.”
“This remarkable achievement signals the commitment of the NNPC to increase Nigeria’s crude oil production and grow reserves through the development of new assets,” the statement added.
This latest production will no doubt increase Nigeria’s production capacity if sustained.
Victor Ezeja is a passionate journalist with six years of experience writing on economy, politics and energy. He holds a Masters degree in Mass Communication.
Follow Us