EXPLORATION/DRILLING/ PRODUCTION
Seplat Produces New Crude Export Grade from OMLs 4, 38 and 41
By Dirisu Yakubu with Agency Reports
S
eplat Petroleum has released a new crude grade from the OMLs 4, 38 and 41 fields in Delta State as Nigeria struggles to quell the impact of militant attacks on one of its key crude oil blends. This new grade called Forcados Light, replaces the regular export grade, Forcados Blend and is being shipped through a terminal at the 125,000 bpd Warri refinery. Seplat has confirmed that the new crude is being sent from the four fields via a 100,000 bpd pipeline to available storage tanks at
the Warri refinery and sold to its off taker, Mercuria, at the plant’s jetty. The company had said last year that its intention was to have another export route available for the future and is aiming for exports of 30,000 bpd on a longer-term basis. The popular export grade, Forcados Blend, one of Nigeria’s top export crudes which are usually loaded via the Shell-operated Forcados terminal in the Niger Delta, was shut down due to February and November attacks which led to the declaration
of force majeure on deliveries. Exports of this grade resumed temporarily at the end of September and in October up until an attack in early-November on the Trans-Forcados Pipeline stopped supplies again. Nigeria’s oil output dropped to a near 30-year low of about 1.4 million bpd in May from 2.2 million bpd earlier in the year as attacks on oil facilities in the Niger Delta increased due to militancy in the region.
Malabu Oil Deal: Nigerian Government wins back OPL 245
T
he Federal government of Nigeria has gained back ownership of OPL 245 nineteen years after it was awarded to Malabu Oil & Gas, under the General Sani Abacha government. According to reports monitored by this medium, the Economic and Financial Crimes Commission (EFCC) got a court order authorizing the return of the oil block to the federal government pending the conclusion of investigations. It would be recall that OPL 245 became the subject of investigation in at least five countries in 2011, after Shell and Italian oil
major, Eni, paid about $1.1billion into the government account in London to take control of the oil block.More than 70% of the funds were then transferred controversially into Malabu accounts controlled by Dan Etete, who was the petroleum minister from 1995 to 1998. Etete afterwards transferred over half of what he got into accounts of fake companies allegedly controlled by one Aliyu Abubakar, who was believed to have acted as a front for politically exposed persons as well as former President Goodluck Jonathan and his attorney general, Mohammed Adoke, as well as Shell and Eni
staff. The EFCC in December filed charges against Etete, Abubakar, and Adoke and a week after, Italian prosecutors also filed charges against Shell, Eni, officials, and Etete for their roles in the scandal. OPL 245 is considered the largest oil block in Africa with over 9 billion barrels of crude. The block is located in Niger Delta and is thought to be very prospective. Two oil and gas discoveries; Etan and Zabazaba, have been made on this block.
Orient Energy Review January, 2017
33