NNPC, Nigeria’s NOC, introduced its Utapate crude oil blend at the Argus European Crude Conference in London on Wednesday.
At the conference, Nicholas Foucart, managing director of NNPC E&P, described the introduction of the blend as a significant milestone for Nigeria’s crude oil exports. The Utapate blend is notable for its desirable qualities. Its sulphur content of around 0.07% and its API gravity of around 44 make it a clean, light blend that is perfect for European markets.
The Utapate Field in Oil Mining Lease 13 is fully operated by NEPL and Natural Oilfield Services, a SEEPCO subsidiary, and began producing in May 2024, with production currently at 40,000 bopd. Foucart stated that production is targeted to increase to 80,000 bopd by the end of 2025.
NNPC has exported the first five cargoes of the Utapate crude to Spain and the East Coast of the United States, and the NOC is now seeking term customers with refineries in Europe and the USA.
The launch of the new blend coincides with Nigeria’s aims to boost oil production, which is expected to reach 2 million bopd by the end of 2024.