President Bola Ahmed Tinubu is set to commission the newly completed Otakikpo Onshore Oil Port in Rivers State next week.
The facility, developed by Green Energy International Limited (GEIL) at its Otakikpo Field (PML 11) base in Ikuru Town, Andoni Local Government Area, is the first indigenous terminal of its kind since the Forcados Terminal opened in 1971.
According to GEIL’s Executive Director of Legal and Corporate Services, Olusegun Ilori, the oil port addresses long-standing evacuation challenges that have limited national crude production, helping Nigeria move closer to its three million barrels-per-day target.
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The terminal has an initial storage capacity of 750,000 barrels, expandable to three million barrels, with a loading capacity of 360,000 barrels per day, expected to lower production costs and boost efficiency across the sector.
The commissioning ceremony will host key figures including Rivers State Governor Sir Siminalayi Fubara, federal officials, and industry stakeholders, with Minister of State for Petroleum (Oil) Senator Heineken Lokpobiri leading the event.
Professor Anthony Adegbulugbe, Chairman and CEO of Green Energy, called the project a transformative development, noting that the oil port opens a new pathway for over 40 stranded fields to contribute to the economy.