Firm begins crude oil terminal operation in Niger Delta
Brittania-U is a major player in the upstream and downstream sectors and joins other multinational oil companies in the troubled region, especially at a time multinationals are exiting the region due to militancy.
The company lifted its first cargo of 129, 000 barrels between December 21 and 26 last year at its newly established Ajapa Terminal.
It began operational life even when the country was facing a lot of operational challenges in the crude oil industry in the region.
Brittania-U has a strong reserve base and proven track record of converting contingent resources to reserves, while the management team has achieved a consistent increase in oil production and boasted a record of value-accretive acquisitions over the years.
Its Chief Executive Officer, Mrs. Uju Ifejika, said the firm, which began operation in 2008, had been able to drill three developmental wells and one appraisal well, two of which were successful, notwithstanding a loss of $23 million resulting from drilling a dry hole during their early phase of exploration activities.
In June last year, it commenced its process to secure Department of Petroleum Resources (DPR), Nigerian Ports Authority (NPA) and Nigerian Maritime and Safety Agency (NIMASA) approvals, which it successfully obtained, before securing the ministerial approval on September 16.
Mrs. Ifejika expressed profound gratitude to the President Muhammadu Buhari for pushing the local content initiatives further, Minister for State, Ministry of Petroleum Resources, Dr. Ibe Kachikwu, and NNPC Crude Oil Marketing Department whom she said played vital roles in their current feat.