The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has issued terminal establishment licenses for 2 crude export terminals to NNPC Exploration and Production Limited and Belema Oil Producing Limited.
Presenting the license to the Chief Executive Officer (CEO), of Belema Oil Producing Limited, Mr Tein Jack-Rich, the CEO of NMDPRA, Farouk Ahmed, reiterated the Federal Government’s commitment to the ease of doing business in Nigeria.
Ahmed noted that with the presentation of the license to Belema Sweet Export Terminal, the indigenous oil company becomes the second to acquire such a license, the first being the Nigerian National Petroleum Corporation (NNPC) Exploration and Production Limited.
He said the licenses for 2 crude export terminals would add more than 4 million barrels of capacity to Nigeria’s Export Storage.
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The NNPC Exploration and Production Limited will establish 2,179,704 barrels of the crude oil terminal at Off Shore Akwa Ibom State within the waters of the exclusive zone.
The Belema Sweet Export Terminal Limited will establish a 2,000,000 BBLS crude oil terminal at 20 nautical miles of Kula southern part of the exclusive economic zone Nigeria.
The founder and president, Belema sweet oil terminal, Jack Rick said the license is an important national security interest for Kula oil and gas producing community.
He said: “The vision is burned out of the need to earn our rightful place. It shows that Nigerians are investing in Nigeria. It will demonstrate the need to be conscious of our environment.
Add 11 billion dollars to our economy annually and can receive 400,000 barrels of crude daily. This will create jobs in the Niger Delta and Nigerians will be proud.
Representative of the NNPC exploration, Modibbo Ahmed in his remark said it is a heartwarming moment for NNPCL and assured that the First cargo from the terminal will be ready in two to 3 months.
