Oil companies in Nigeria now have a safe transportation route for their crude oil with the inauguration of the new Amukpe-Escravos Pipeline.
This follows the vandalism of the 180,000 barrels Trans-Niger pipeline by oil thieves causing oil majors to abandon the facility.
The new crude oil transportation choice will decrease incidents of oil theft which has affected the revenues of many oil companies in Nigeria and the country’s economy.
According to reports, the new pipeline has a capacity to move 160,000 barrels of crude oil per day and the 67-kilometre-long pipeline is mostly underground, which hides it away from the prying eyes of oil thieves and pipeline vandals.
Reports say the dewatering for the new pipeline would be completed on Friday while site Acceptance Test is being conducted with the movement of commercial-quantity crude volumes.
Already, some top players in the oil industry have started leveraging the new pipeline, one of which is Seplat Energy. The Nigerian-based major oil company which is listed on the floor of the Nigerian Exchange and the London Stock Exchange said it has started commercial transportation of crude oil via the Amukpe-Escravos Pipeline.
