Century Energy Partners Energy Link Infrastructure for Fso Eli Akaso Terminal Maintenance
- Century Energy Group partners with Energy Link Infrastructure (Malta) Limited for ELI AKASO floating storage and offloading terminal in Oil Mining Lease 18
- CG to complete the spread-mooring for ELI AKASO by April 10, 2023, and will manage its daily operations
- ELI ACOES infrastructure to reduce downtime and crude losses from existing export routes, with a throughput of 100,000 barrels per day of oil
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Century Energy Group (CG) has announced its partnership with Energy Link Infrastructure (Malta) Limited (ELI) for the completion, operations and maintenance of the ELI AKASO floating storage and offloading (FSO) terminal in Oil Mining Lease (OML) 18.
This project is a critical component of the Alternative Crude Oil Evacuation System’s (ACOES) infrastructure, which is in line with our corporate vision of supporting stranded oil and gas asset commercialization and production enhancement through energy infrastructure services.
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Insight on the partnership
Under a Risk Service Contract, CG has deployed its personnel, infrastructure, and expertise towards the engagement and has made significant progress in the completion of FSO Eli Akaso spread mooring.
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CG is scheduled to complete the spread-mooring by 10th April 2023. Upon completion of the spread-mooring for the ELI Akaso, CG will be responsible for the daily operations and management of the FSO ELI AKASO terminal.
The Terminal will serve as a dedicated crude oil storage and export terminal for OML holders and Marginal Field producers in the Eastern Niger Delta, inclusive of the OML 18 JV, and other stranded satellite fields.
ELI’s ACOES infrastructure comprises a new 47km secure undersea pipeline from OML 18 and the FSO ELI AKASO terminal.
This ACOES infrastructure will enhance crude oil commercialization primarily through the reduction of downtime and crude losses associated with the existing export routes.
The pipeline component is expected to have a throughput capability of 100,000 barrels per day (b/d) of oil, while the FSO ELI AKASO has a storage capacity of 2 million barrels of oil.
CEOs of both companies react
Ken Etete, Group CEO of Century Energy Group reacting to the partnership said:
“We are thrilled to announce our partnership with Energy Link Infrastructure for the spread-mooring installation, and operations and management of the FSO ELI AKASO.
“This collaboration marks a significant milestone for Century Energy Group as we continue to expand our reach and capabilities in the energy infrastructure sub-sector.
"With ELI's expertise and experience in the industry, we are confident in our ability to provide world-class services and maximize the potential of this project.”
Also, Kolapo Ademola, CEO of ELI, commented:
"ELI is delighted to collaborate with Century Energy Group. CEG’s proven expertise and experience in the sector provides ELI with a reliable partner towards the attainment of our corporate goals within the midstream oil and gas sector in Nigeria.
"Our collaboration with CEG expedites our ability to deliver value to our key partners and stakeholders; Crude Oil producers in the Eastern Niger Delta, the Federal Government of Nigeria and the Nigerian economy at large."
Century Energy Group remains committed to the development of the oil and gas sector in Nigeria and is confident that this partnership with ELI will contribute significantly to the sector's growth and the Nigerian economy at large.
Oando Plc bounces back
Meanwhile, in another report, Oando Plc, an indigenous oil company in Nigeria, has returned to profitability, posting a net profit of N34.7 billion for the 2021 fiscal year.
The company's CEO, Wale Tinubu, expressed satisfaction with the strong revenue performance despite a challenging operating environment.
He also affirmed the company's commitment to investing in climate-friendly and bankable energy solutions.
Source: Legit.ng
