Firm moves to address hydrocarbon evacuation, storage challenges in Rivers

To address hydrocarbon evacuation and storage challenges, Century Energy Services Limited (CESL) has completed the mooring installation of the double hull, 2,000,000 barrels (bbl) storage capacity at ELIAkaso Terminal in Rivers State.

The terminal operations are said to encourage more hydrocarbon production by ameliorating current crude evacuation and storage challenges that frequently impact injector export programmes, resulting in operational cost increases for both producers and customers.

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According to the managing director of Energy Link, Adekolapo Ademola: “With this start of hydrocarbon storage services, stakeholders in Nigeria and globally can take further comfort as the terminal operations will play a pivotal role in balancing supply and demand in the growing energy market ensuring that hydrocarbon is available when and where they are needed, and further providing a buffer against market and supply chain disruptions.’’

Ademola, also explained that the FSO ELIAkaso exemplifies his organisation’s strategic approach to addressing both current and future demands of the oil and gas industry adding “We remain steadfast in our commitment to pursuing the most resilient, competitive, and high-return asset investments, ensuring consistent cash flow for the foreseeable future to all our stakeholders. This strategy is critical in EnergyLink’s strategic business planning.”

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He further noted that initiatives like the FSO ELIAkaso terminal would enable them to cater to the growing demand from their customers.

In his words: “They are increasingly focused on enhancing their production and supply

security, a concern that’s gaining prominence among global industry stakeholders.”

On his part, chief executive officer, Century Energy Services Limited, Ken Etete, said: “With the FSO ELIAkaso terminal, we’ve significantly advanced our collaboration in oil and gas infrastructure, positively impacting EnergyLink’s business approach and bottom line.

“EnergyLink has affirmed its commitment to continue working with us, aiming to rapidly expand hydrocarbon storage services not only in Nigeria, but also internationally. This aligns seamlessly with our infrastructure vision.”