Pan Ocean Chairman, Fadeyi restates Escravos pipeline completion by early 2018
pan, ocean, chairman, fadeyi, restates, escravos, pipeline, completion, by, early, 2018
He emphasized that the project, which will significantly boost Nigeria’s crude oil exports by 160,000 barrels per day, will also serve as an alternative to the much-troubled Trans Furtado’s Pipeline (TFP) for oil companies operating in the western Niger Delta.
The chairman, a well-respected businessman and philanthropist noted: “Driven by the urgent need to encourage alternate field production potential of exploration and production companies as well as infrastructure development for Nigeria, Pan Ocean, Operator of the Nigerian National Petroleum Corporation (NNPC) Pan Ocean Joint Venture awarded a contract for the construction of Amukpe-Escravos Pipelines Project (AEPP) to Fenog Nigeria limited, an indigenous company in 2011. The contract which involves installation of 20 inches pipeline across the 67 kilometers route will have capacity to handle 160,000 barrels of oil per day (BOPD) with remote manifolds to accommodate third parties crude oil evacuation to the Escravos Tank farm.”
Dr Fadeyi remarked that, “The Amukpe-Escravos Pipeline Project (AEPP), a joint venture (JV) of the Nigerian National Petroleum Corporation (NNPC) and Pan Ocean Oil Corporation, is scheduled to come on stream by early 2018. It is hoped that the pipeline project will offer an option to the “much troubled” Trans Forcados Pipeline (TFP) for crude export from mid-western oil producers in the Niger Delta.
According to the oil and gas boss, “The TFP has a daily capacity of 240,000 bpd, with average daily flows ranging between 200,000 bpd and 240,000 bpd. Amid it’s shutdown, Nigeria’s crude oil production fell from 2 million bpd to as low as 1.27 million bpd, losing its position as Africa’s number one crude oil producer and falling behind Angola several times over the past year.
The AEPP is going to be a major export line, it also gives opportunity for other injectors who may also be stalled by the erratic vandalism of the TFP to join in transport crude to Escravos together.
This great achievement means Pan Ocean has an alternative line to export its crude and has also created an opportunity for others who have been using TFP to also export their crude without disruption. This project will help the country to continue to flow their crude and keep the economy alive.”