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Seplat commences commercial injection of crude oil through new Amukpe-Escravos Pipeline

Seplat drives market’s new low as NGX-ASI decreases by 0.33%

Seplat Energy Plc has commenced the commercial injection of crude oil through the new Amukpe-Escravos Pipeline.
The leading Nigerian energy company listed on the Nigerian Exchange and the London Stock Exchange said the 67km mostly underground pipeline is expected to provide a more reliable and secure export route for liquids from Seplat Energy’s major assets OML 4, 38 and 41, connecting them with the Chevron-operated Escravos Terminal.

It has a capacity of 160,000 bbl/day, of which the Seplat Energy / NPDC joint venture is entitled to inject 35,000 bbl/day. Dewatering was completed on Friday July 29 and the Site Acceptance Test is now underway with commercial volumes.

Read also: NAHCO, NEPC partner to boost non-oil earnings with export processing centres

Until now, the Company has relied on the Trans Forcados System, which has experienced numerous disruptions in recent years due to pipeline maintenance and vandalism, which have impacted the Company’s revenues.

Roger Brown, Chief Executive Officer of Seplat Energy, said: “The commercial launch of the Amukpe-Escravos Pipeline is a significant event for Seplat Energy and for Nigeria, offering a more secure and reliable export route that will assure higher revenues and profitability for Seplat Energy, enabling us to make a larger contribution to Nigeria’s economy”.

“We commend the work that has made this possible and appreciate the efforts of our partners and all contractors involved to create this more reliable and secure export route for Nigeria’s oil,” he said.

Iheanyi Nwachukwu, is a creative content writer with over 18 years journalism experience writing on banking, finance and capital markets. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA).

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