In a significant milestone, the Nigerian National Petroleum Company Limited (NNPC Ltd) has unveiled a new crude oil grade, Utapate, and successfully exported its first cargo to Spain.
According to a statement by NNPC Ltd’s Chief Corporate Communications Officer, Mr. Olufemi Soneye, the Utapate crude oil blend, sourced from Oil Mining Lease (OML) 13, operated by NNPC E&P Limited, commenced production in July 2024, with an initial output of 28,000 barrels per day, expected to increase to 50,000 barrels per day.
The NNPC spokesman disclosed that “Spanish oil giant Repsol won the tender for the initial cargo of 950,000 barrels, with Gulf Transport and Trading securing tenders for August and September 2024.”
The Utapate crude oil blend boasts a low sulphur content of 0.0655% and low carbon footprint, making it an attractive option for major European buyers.
This achievement marks a significant step forward for NNPC Ltd, demonstrating its commitment to increasing Nigeria’s crude oil production and growing reserves through the development of new assets.
The launch of Utapate follows the successful introduction of Nembe crude oil, produced by the NNPC/Aiteo operated Oil Mining Lease (OML) 29 Joint Venture (JV).
“This remarkable achievement signals the commitment of the NNPC Ltd to increase Nigeria’s crude oil production and grow reserves through the development of new assets”, he added
