Tinubu to reveal the original $ 400 million crude oil terminal in the river

The President of the Tinubu soccer on October 8 will inaugurate the Crude Oil Export Terminal of the Brainikiko in the Brainiko at Rivers State, marking the first new crude oil export facility in Nigeria in more than five decades.

This project, developed by Green Energy International Limited (Geil), the Operator of the Brainikiko Field in OML 11 in the City of Ikuru in the Andoni Regional Government, is the first land raw export terminal on Nigeria. The last land terminal of its type – Forcados Terminal – was assigned in 1971.

According to Geil, Commissioning will attract high officials including State Minister for oil (oil), Senator Heineken Lokpobiri, Governor of the State Rivers, Siminaayi Fubara, as well as stakeholders and industrial regulators.

In a statement on Thursday, the Executive Director of Legal Services and Geil Company, Olusegun Ilori, said the facility was a direct response to President Tinubu’s encouragement to expand raw output and resolve the challenges of old evacuation.

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“This project is a strategic infrastructure that supports administrative commitments to increase output while reducing costs,” Ilori said.

Over the years, industrial operators have cited evacuation traffic jams as one of the biggest obstacles to meet the target production of federal crude oil from three million barrels per day. The newly designed Brainiko Terminal to alleviate these obstacles by providing outlets for more than 40 stranded oil fields, opening millions of inaccessible raw barrels.

This terminal has an initial storage capacity of 750,000 barrels, with space for a scale of up to three million barrels, and a loading capacity of 360,000 barrels per day. This facility is also expected to significantly cut production costs for original oil producers.

The Chair and Chief Executive of Geil, Professor Anthony Adegbulugbe, described the terminal as a landmark for the Nigerian energy sector.

“What we have achieved here is not only a storage solution, but the path for around 40 stranded oil fields to eventually contribute to the economy,” said Adegbulugbe.

The Terminal of the Brainiko worth $ 400 million came when the Nigerian oil industry was struggling against the decline in production, vandalism, oil theft, and an increase in operational costs. Commissioning, according to officials, marks new efforts by the Federal Government to restore investor confidence and position the sector as a driver of economic growth.