President Bola Tinubu will on October 8 inaugurate the $400m Otakikpo Onshore Crude Oil Export Terminal in Rivers State, the first indigenous onshore terminal built in Nigeria since the Forcados facility in 1971.
Developed by Green Energy International Limited in Ikuru town, the terminal has an initial storage capacity of 750,000 barrels (expandable to 3m) and a loading capacity of 360,000 barrels per day.
The project is expected to ease evacuation bottlenecks, serve over 40 stranded oil fields, cut production costs for local producers, and boost Nigeria’s crude output. Industry leaders, government officials, and key stakeholders will attend the inauguration, seen as a major step toward restoring investor confidence in Nigeria’s oil sector.
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