-The Nigerian National Petroleum Company Limited (NNPCL) exported its first cargo of 950,000 barrels of Utapate crude oil, produced from OML 13 in Akwa Ibom State, to Spain, marking a significant milestone in Nigeria’s crude oil exports.
-Utapate crude, similar to the Nembe grade, features a low sulphur content of 0.0655% and a low carbon footprint due to gas flaring elimination, making it highly suitable for European and U.S. refineries.
-Since May 2024, Utapate field production has increased to 40,000 barrels per day (bpd), with plans to reach 65,000 bpd by mid-2025 and 80,000 bpd by the end of 2025 through additional projects and infrastructure development.
-Five cargoes of Utapate crude have been exported to Spain and the U.S., with positive feedback from international buyers, and plans for term contracts to ensure consistent supply to European and U.S. East Coast refineries.
-The Utapate field, with reserves of 330 million barrels of crude and 3.5 trillion cubic feet of gas, underwent extensive development from 2013 to 2019, including infrastructure like production facilities, subsea pipelines, and offshore loading platforms.
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