April 04, (THEWILL) – Operators of the Oza Oil Field, Decklar Resources Inc. and its partner, Millenium Oil & Gas Company Limited, said they have delivered a total of 15,000 barrels of crude oil in 2024 for production to the Edo Refinery.
Chief Executive Officer of Decklar Resources, Sanmi Famuyide, who disclosed this in a statement, noted that the company has continued ongoing crude oil injection volumes into the Trans Niger Pipeline for transport to and export from the Bonny Export Terminal.
“We are very pleased to be announcing the significant milestone of the first crude oil exports from the Oza Oil Field through the TNP and Bonny Export Terminal. In addition, crude oil is still being trucked to the local refinery customer in Edo State.
“The restoration and continued operation and availability of the Trans Niger Pipeline connection between the Oza Oil Field and the Bonny Export Terminal and delivery and sales of crude oil to the local refinery has allowed Decklar and Millenium to deliver a steady stream of crude oil to market and to generate a continuing revenue stream.
“With continued revenues, the Company’s financial position will improve enabling progress with additional field development activities, including re-entries and drilling plans.
“In addition, the approximately 8,000 barrels of crude oil Decklar and Millenium previously delivered to the Forcados export terminal is expected to have a vessel nomination in the next few weeks, with export and sales coming thereafter,” said Famuyide.
Noting that the crude oil produced from the field is sold to Shell Western Supply and Trading Limited (Shell), Famuyide added: “Crude oil production from the Oza Oil Field through the TNP to the Bonny Export Terminal is being sold to Shell Western Supply and Trading Limited.
“Crude oil held in storage at the Oza Oil Field and crude oil being produced into storage tanks from the Oza-1 and Oza-4 wells is being transported by truck a short distance in-field to the transfer pumping station at the Oza Oil Field for injection into the TNP.
“The first crude oil export cargo of 15,000 bbls to Shell was loaded on board a vessel with a bill of lading date of February 7, 2024, with sales proceeds expected in the last week of March.
“Decklar and Millenium are expecting another crude oil export nomination notice from Shell before the end of March 2024, for the export of another 15,000 barrels of crude oil currently held in the Bonny Export Terminal tanks.”
Developed by the Edo Refinery and Petrochemical Company Limited (ERPC), the facility situated in Ologbo, Ikpoba Okha Council, is a 6,000bpd capacity plant, which is being expanded to 21,000bpd.
The modular refinery was facilitated through a Memorandum of Understanding (MoU) between Governor Godwin Obaseki-led State Government and AIPCC. The facility with its feedstock can produce 500,000 litres of diesel, 300,000 litres of Naphtha and 200,000 litres of low-pour fuel oil.
As of December 2023, the two modular refineries in the State, ERPC facility and Duport Midstream Company Limited (DMCL) facility in Egbokor, Orhionmwon Council area of Edo State, received a total of 75,500 barrels of crude from the Oza oil field.
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