Quality of Crude Oil
The commercial products of the field are crude oil and associated gas. The market for the crude oil is already established, well developed and buyers are readily available. The quality of the Bilabri crude oil at 38.80 API is very high and is comparable to the well known Bonny Light (370 API). Like other Nigerian crudes, it is also sulphur-free which makes it easily acceptable in most refineries worldwide. The Promoter has had no difficulty finding buyers for this product.
The normal bi-product of the Crude Oil production is the Associated Gas. It is estimated that a portion of the expected produced Associated Gas will go into the gas turbine on-board the FPSO to power the production utilities.
Nigeria’s production output as permitted by OPEC has recently ranged between 2.1 – 2.4 million barrels per day. At an anticipated initial production of 20,000 bopd, this relatively small volume will not affect Nigeria’s OPEC production ceilings.
The GTL products do not come under the crude oil production quota. Besides this, the Government is granting special incentives to encourage gas utilization, so we are expecting optimal administrative support when the project grows into the gas utilization phase.