Seplat Energy has commenced the commercial injection of crude oil through the new Amukpe-Escravos Pipeline.
In a disclosure signed by Emeka Onwuka, Chief Financial Officer, on the commissioning of Amukpe-Escravos Pipeline, the company stated that the project will create a more reliable and secure export route for liquids from Seplat Energy’s major assets.
According to Seplat Energy, de-watering was since completed on Friday 29th July and the Site Acceptance Test is now underway with commercial volumes.
What the company is saying
The company stated, “Seplat Energy Plc, a leading Nigerian energy company listed on the Nigerian Exchange and the London Stock Exchange, is pleased to announce that it has begun commercial injection of crude oil through the new Amukpe-Escravos Pipeline.
- “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 29 July and the Site Acceptance Test is now underway with commercial volumes.
- “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.
- “Speaking on the development, 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.”
Seplat Energy Plc recently announced an interim dividend at a rate of US2.5cents per ordinary share to be paid to shareholders whose names appear in the Register of Members as at the close of business on 12th August 2022.
