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NEMBE CRUDE ASIAN ROADSHOW

S&P Global APPEC 2024, Singapore.

HIGHLIGHTS

Historical Significance

OML 29 stands as a legendary Nigerian Oil and Gas asset. Nigeria’s first commercial oil discovery falls within OML 29. It consists of three active fields, namely- Nembe Creek, Odeama Creek, and Santa Barbara. It boasts a reserve of 2.32 billion barrels  of Crude Oil and Condensate.

Ownership Transition

The block was initially owned by SDPC JV in equity proportion 55% for NNPC and 45% for conglomerate of SPDC, TEPNG and NAOC. Evacuation from the field to Bonny Oil and Gas Terminal (BOGT) for export was through the Nembe Creek Trunkline (NCTL). Under SPDC, peak production of 117,370bopd was achieved in 1991.

In March 2015, 45% equity of SPDC, TEPNG and NAOC was divested to Aiteo Eastern E&P Limited, and the JV renamed, NNPC/Aiteo JV.

Peak Production Achievement
Aiteo ramped up production from 25,000 bopd to a peak of average 97,000 bopd by December 2016 even as the acreage has potential to produce well over 150,000 bopd.

Despite this, low oil prices coupled with incidents of vandalism and oil theft severely impacted the evacuation process through the 114 Km NCTL line, leading to the cessation of production.


Emergence of Nembe Crude

In 2023, this challenge precipitated the decoupling of Nembe Crude Oil from Bonny Light and the inauguration of a new Crude alternative evacuation via Nembe Crude Oil Terminal – Galilean 7 FSO.

ASSET OVERVIEW

Numbe Crude Destination Q4 2023- Q2 2024
Numbe Crude API GRAVITY
NNPCL/ALTEO-JV PRODUCTION

NEMBE CRUDE ASSAY

CLIENT: AITEO ENERGY ||  LOCATION: GALILEAN 7 FSO  ||                    SAMPLE NATURE: COMPOSITE SAMPLE

YIELD PATTERN

NEMBE CRUDE OIL EXPORT TERMINAL FACILITIES

Committed and experienced Professionals

Floating Storage Offshore (FSO) vessel

Cargo Control Room (CCT), LACT Unit

 Ullage Temperature Interface (UTI)

Functional Laboratory

Communication and Navigation Facilities

Modern Hose Systems

Firefighting tugboats

Storage Capacity – 2 million barrels of crude

Central Processing Facility (CPF)

GALILEAN 7 FSO PARTICULARS

ENVIRONMENTAL CONSIDERATIONS

Sustainability
The Nembe Crude Oil Export Terminal implements strict environmental regulations and sustainability practices to minimize its ecological impact.

Spill Response
Rapid response measures and advanced technologies are in place to mitigate the risk of oil spills and protect fragile ecosystems.

Community Engagement
The terminal actively engages with local communities, supporting their well-being and implementing initiatives for socio-economic development.

CONTACT US

NNPC Upstream Investment Management Services (NUIMS)
Plot 36 Gerrard Road, Ikoyi 106104, Lagos, Nigeria.
www.nnpcgroup.com
+234 0 147 39388.
contactus@nnpcgroup.com

Aiteo Eastern E&P Company Limited
Block 10, Plot 5A,
Lagos, Nigeria.
+234 8 112 593700
info@aiteo.com

NNPC Trading Limited (NTL)
25 Mississippi Street Maitama,
Abuja, Nigeria.
www.nnpcgroup.com
+234 9 460 81000
contactus@nnpcgroup.com

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