NNPCL announces Utapate crude blend to unlock 28,000 barrels per day production On Monday, the Nigerian National Petroleum Company Limited (NNPCL) announced the launch of the Utapate crude oil blend, a new grade of crude oil introduced to the international market. NNPCL spokesperson Olufemi Soneye revealed in a press statement that the Utapate crude oil blend, sourced from Oil Mining Lease (OML) 13 and fully operated by NNPC Ltd’s upstream subsidiary NEPL, began operations in July 2024 with its first shipment headed to Spain. Utapate, located offshore Akwa Ibom State in Nigeria, currently produces 28,000 barrels of crude oil per day, with the potential to increase production to 50,000 barrels per day. The sulfur content of the new crude is 0.0655 percent. The statement highlighted that Spanish oil giant Repsol won the tender for the initial cargo of the Utapate blend, which is comparable to the highly sought-after Amenam crude. Gulf Transport and Trading, another major crude oil dealer, secured cargo tenders for August and September 2024. At the Argus European Crude Conference in London last year, NNPC Ltd announced the launch of the Nembe crude oil grade, produced by the NNPC/Aiteo-operated OML 29 Joint Venture. Like Nembe, the Utapate blend has low sulfur content and a low carbon footprint due to flare gas elimination, aligning with the specifications required by major European buyers. This development demonstrates NNPC Ltd’s commitment to increasing Nigeria’s crude oil production and expanding reserves through the development of new assets.
On Monday, the Nigerian National Petroleum Company Limited (NNPCL) announced the launch of the Utapate crude oil blend, a new grade of crude oil introduced to the international market. NNPCL spokesperson Olufemi Soneye revealed in a press statement that the Utapate crude oil blend, sourced from Oil Mining Lease (OML) 13 and fully operated by NNPC Ltd’s upstream subsidiary NEPL, began operations in July 2024 with its first shipment headed to Spain.
Utapate, located offshore Akwa Ibom State in Nigeria, currently produces 28,000 barrels of crude oil per day, with the potential to increase production to 50,000 barrels per day. The sulfur content of the new crude is 0.0655 percent.
The statement highlighted that Spanish oil giant Repsol won the tender for the initial cargo of the Utapate blend, which is comparable to the highly sought-after Amenam crude. Gulf Transport and Trading, another major crude oil dealer, secured cargo tenders for August and September 2024.
At the Argus European Crude Conference in London last year, NNPC Ltd announced the launch of the Nembe crude oil grade, produced by the NNPC/Aiteo-operated OML 29 Joint Venture. Like Nembe, the Utapate blend has low sulfur content and a low carbon footprint due to flare gas elimination, aligning with the specifications required by major European buyers.
This development demonstrates NNPC Ltd’s commitment to increasing Nigeria’s crude oil production and expanding reserves through the development of new assets.
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