The Nigerian National Petroleum Company Limited (NNPCL) has launched the Utapate crude oil grade to the international market. NNPCL’s spokesman, Olufemi Soneye, announced this on Monday.
The Utapate crude oil blend, entirely operated by NEPL, NNPC Ltd’s upstream subsidiary from Oil Mining Lease (OML) 13, began operations in July 2024 when the first cargo was shipped to Spain.
Located offshore Akwa Ibom State in Nigeria, Utapate crude produces 28,000 barrels per day of crude oil and has the potential to reach 50,000 barrels per day.
The sulfur content of the new crude is 0.0655%.
The statement reads thus; “Spanish oil giant Repsol, won the tender for the initial cargo of the new crude blend which is comparable to the much sought-after Amenam crude.
“Gulf Transport and Trading, another leading crude oil dealer, has also secured the cargo tenders for August and September 2024.
“During the Argus European Crude Conference in London last year, NNPC Ltd announced the launch of Nembe crude oil, produced by the NNPC/Aiteo-operated Oil Mining Lease (OML) 29 Joint Venture (JV).
“Similar to the Nembe crude oil grade, the Utapate crude oil blend has a low sulfur 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 Ltd to increase Nigeria’s crude oil production and grow reserves through the development of new assets.”