The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has granted crude oil terminal licences to the Nigerian National Petroleum Company Limited and Belema Oil Producing Limited.
The announcement was made on Tuesday through its social media platforms. The issuance of these licenses is in accordance with the provisions outlined in the Petroleum Industry Act (PIA).
The crude oil terminal operated by the Nigerian National Petroleum Company Limited will be situated in Akwa Ibom state, while the Belema crude oil terminal will be located in Rivers state.
During the signing, the President of Belema Oil Producing Limited, Tein Jack complimented the Federal Government for facilitating business operations in Nigeria. According to him, the private sector-led crude oil terminal would bring Nigeria to a global scale as a high-breed terminal.
He said the Belema terminal could add over $11 billion to the national revenue and over 400,000 barrels of crude daily with a storage point that could store eight million barrels of crude, and will create over 100,000 jobs for people of the Niger Delta and Nigerians at large.
The Petroluem Company Limited is to establish 2,179,747 barrels of crude oil (BBLS) crude oil terminal at Offshore Akwa Ibom State within the waters of the exclusive economic zone.
Meanwhile, Belema Sweet Export Terminal Limited is to establish 2,000,000 barrels of crude oil (BBLS) crude oil terminal at 20 Nautical Miles of Kula Southern Part of the exclusive economic zone.