NNPC has introduced a new crude oil grade, the Utapate Crude Oil Blend, into the international market. This announcement was made in a statement signed by the NNPC Chief Corporate Communications Officer (CCCO), Femi Soneye, and shared with the Nigerian Tribune.
The Utapate Crude Oil Blend, produced at a 28,000 barrels per day facility located offshore Akwa Ibom State, South-South Nigeria, is set to significantly enhance Nigeria’s oil output and boost the country’s crude oil production and reserves. The facility is operated under Oil Mining Lease (OML) 13 by NEPL, NNPC Ltd’s upstream subsidiary.
“NNPC Ltd. has announced the introduction of Utapate crude oil blend, a new crude oil grade, into the international crude oil market,” the statement read.
The Utapate crude oil blend began operations in July 2024, with its first cargo headed for Spain. The production capacity is expected to rise to 50,000 barrels per day. The blend has a sulphur content of 0.0655%.
Spanish oil giant Repsol won the tender for the initial cargo, making it comparable to the highly sought-after Amenam crude. Gulf Transport and Trading, another prominent 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 Nembe crude oil, produced by the NNPC/Aiteo-operated OML 29 Joint Venture (JV). Similar to the Nembe crude oil grade, the Utapate blend boasts low sulphur content and a low carbon footprint due to flare gas elimination, meeting the stringent requirements of major European buyers.
“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 concluded.
