The Nigerian National Petroleum Company Limited (NNPCL) has announced the introduction of Utapate, a new crude oil blend, into the international crude oil market.
According to a statement issued by the Chief Corporate Communications Officer, NNPC Ltd Olufemi Soneye on Monday ,The Utapate crude oil blend, which commenced operations in July 2024, is produced from Oil Mining Lease (OML) 13, fully operated by the Nigerian Exploration and Production Limited (NEPL), NNPC Ltd’s upstream subsidiary.
He explained that the first cargo of the Utapate crude oil blend, totaling 950,000 barrels, has been sold to Spanish oil giant Repsol and is headed for Spain while additional cargoes have been secured by Gulf Transport and Trading for August and September 2024.
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Located offshore Akwa Ibom State in Nigeria, the Utapate field is currently producing 28,000 barrels per day, with potential to increase production to 50,000 barrels per day.
The crude oil blend has a low sulphur content of 0.0655%, making it comparable to the sought-after Amenam crude.
The NNPCL described the launch of Utapate crude oil blend as a significant achievement following the successful launch of Nembe crude oil grade in 2023.
Both crude oil grades according the statement have low sulphur content and low carbon footprint, meeting the specifications of major buyers in Europe.
(Editor: Paul Akhagbemhe)
