NNPC introduces a new crude oil grade called UTAPATE
The Nigerian National Petroleum Company Limited, known as NNPC Ltd, has officially introduced a new crude oil grade named Utapate CRUDE OIL GRADE to the international market. This announcement was made on Monday by Olufemi Soneye, the Chief Corporate Communications Officer of NNPC Ltd. He indicated that the Utapate crude oil blend, which is derived from Oil Mining Lease (OML) 13 and is fully operated by NEPL, the upstream subsidiary of NNPC Ltd, began its operations in July 2024, with its inaugural cargo destined for Spain.
The statement reads: “NNPC Ltd. has announced the introduction of Utapate crude oil grade, a new crude oil grade, into the international crude oil market. “From Oil Mining Lease (OML) 13, fully operated by NEPL, NNPC Ltd’s upstream subsidiary, the Utapate crude oil grade commenced operations in July 2024 as its first cargo headed for Spain.
“Located offshore Akwa Ibom State in Nigeria, Utapate crude oil grade‘s current crude oil production is at 28,000 barrels per day, with the potential to increase it to 50,000 barrels per day. Also, the sulphur content of the new crude is 0.0655%.
The initial shipment of the Utapate crude Oil Grade
“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 grade has a low sulphur content and low carbon footprint due to flare gas elimination, fitting perfectly into the requirements of major buyers in Europe. “This remarkable achievement signals the commitment of NNPC Ltd. to increase Nigeria’s crude oil production and grow reserves through the development of new assets,” the statement read.
