- The GEIL crude terminal will boost storage and export capacity, reducing reliance on ageing foreign-built facilities.
- The project creates flexible investor options, including trucking, barging, and offshore pumping solutions.
Green Energy International Limited (GEIL) has achieved a significant milestone with the launch of the $400 million Otakikpo crude terminal in Rivers State. The project, recognised as Nigeria’s first indigenous onshore oil terminal, demonstrates GEIL’s strong commitment to developing national energy infrastructure. From the beginning, the GEIL crude terminal has been presented as a long-awaited answer to Nigeria’s ageing export facilities.
Professor Anthony Adegbulugbe, GEIL’s Chairman, stated that the terminal marks a new era after decades of reliance on foreign-built systems. He further explained that the project followed two years of investment and carries a total development projection of $1.3 billion. Consequently, the venture has arrived at a crucial time, since ageing pipelines have limited national oil production.
The terminal includes a modular design with an initial storage capacity of 750,000 barrels, which can expand to 3 million barrels. In addition, Adegbulugbe highlighted how the GEIL crude terminal benefits four categories of investors. Smaller producers, unable to construct expensive pipelines, now have trucking solutions that move 1,000 to 1,500 barrels daily.
Meanwhile, companies located along creeks can adopt barging. Offshore producers within 20 to 23 kilometres may pump crude through bi-directional pipelines. Larger investors within 40 kilometres also benefit, since the terminal helps prevent theft and losses.
Furthermore, GEIL designed all pipelines to be multipurpose and able to carry oil, gas, and water. This design significantly reduces vandalism risks. As a result, investors can receive full payments for all delivered barrels.
Until now, Nigeria’s crude exports depended on five major terminals built over 50 years ago by multinationals Bonny, Qua Iboe, Brass, Forcados, and Escravos. However, establishing the Otakikpo facility now strengthens Nigeria’s energy security and boosts investor confidence.
Finally, the Otakikpo Terminal, which President Tinubu is expected to inaugurate, symbolises a major shift towards indigenous ownership of vital energy assets.