Seplat Energy Plc (NGX: SEPLAT) has begun commercial injection of crude oil through Amukpe-Escravos Pipeline, the company says.
The company disclosed this in a document published on the Nigerian Exchange on Monday.
Seplat said that the 67km pipeline with a capacity of 160,000 bbl/day is mostly underground and would provide a secure export route for liquids from Seplat Energy’s major assets OML 4, 38 and 41, connecting them with the
Chevron-operated Escravos Terminal.
It added that Seplat Energy / NPDC joint venture is entitled to inject 35,000 bbl/day.
Read also: Custodian Investments Plc announces 10 kobo interim dividend for H1 2022
The company said that dewatering was completed on Friday 29 July and the Site Acceptance Test is now underway with commercial volumes.
Until now, the Company said it has relied on the Trans Forcados System, which has experienced numerous disruptions in recent years due to pipeline maintenance and vandalism, which have impacted the Company’s revenues.
The equity price of SEPLAT closed flat at N1,430.5 per share on Friday.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
