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Nigeria: Seplat Petroleum, Waltersmith Refinery Sign Crude Purchase Agreement
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By Peter Uzoho
Seplat Petroleum Development Company Plc, a Nigerian independent energy company has signed a Crude Purchase Agreement (CPA) with Waltersmith Petroman Oil Limited (Waltersmith).
A statement yesterday, explained that the CPA was for the supply of between 2,000 and 4,000 barrels of oil per day (bopd) from existing working-interest production from the Ohaji South Field within OML53, for Waltersmith’s new 5,000 bopd modular refinery at Ibigwe Field, in Imo State.
It stated that previously, Seplat’s share of Ohaji South crude used to be evacuated to the export terminal via a third-party Crude Handling Agreement with Waltersmith.
“This new agreement benefits Seplat by selling its crude oil directly to Waltersmith for refining, thereby eliminating crude losses and downtime experienced along the evacuation and export route.
ENERGY
Seplat Petroleum Development Company Plc, has signed a Crude Purchase Agreement (CPA) with Waltersmith Petroman Oil Limited.
In a statement obtained by Vanguard, Seplat stated: “The CPA is for the supply of between 2,000 and 4,000 bopd from existing working-interest production from the Ohaji South Field within OML53, for Waltersmith’s new 5,000 bopd modular refinery at Ibigwe Field, in Imo State.”
Previously, Seplat’s share of Ohaji South crude was primarily evacuated to the export Terminal via a third-party Crude Handling Agreement with Waltersmith.
The statement says this new agreement benefits Seplat by selling its crude oil directly to Waltersmith for refining, thereby eliminating crude losses and downtime experienced along the evacuation and export route.
By Itohan Abara-Laserian
Lagos, Dec. 22, 2020 Seplat Petroleum Development Company Plc has signed a Crude Purchase Agreement (CPA) with Waltersmith Petroman Oil Limited to supply the latter between 2000-4000 barrel of oil per day (bopd) .
Mrs Edith Onwuchekwa, Company Secretary and General Counsel of Seplat, announced this in a notice posted on the website of the Nigerian Stock Exchange (NSE) on Tuesday in Lagos.
According to the notice, the transaction will eliminate crude oil losses, create local jobs and ensure that Nigeria’s crude oil is refined in Nigeria to boost economic growth.
It says the CPA is for the supply of between 2,000 and 4,000 bopd from existing working-interest production from the Ohaji South Field within OML53, for Waltersmith’s new 5,000 bopd modular refinery at Ibigwe Field, in Imo State.
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