The Federal Government has approved the establishment of Crude Oil Export Terminal in the Kula community of Rivers State by an indigenous oil company, Belemaoil Producing Limited.
The approval was contained in a letter signed by the Director of the Department of Petroleum Resources, (DPR), Mordecai Ladan.
According to the statement, the approval will enable Belemaoil established a Floating Storage and Offloading Vessel which will operate as a Crude Oil Terminal to be known as Belemaoil Terminal Kula.
In the meantime, the Board and Management of Belemaoil Producing Limited have expressed appreciation to President Muhammadu Buhari for approving the establishment of Crude Oil Export Terminal for Belemaoil in Kula, Rivers State, adding that the decision would create a window of opportunities to Rivers youths for gainful employments and the development of the Niger Delta region in general.
Samuel Abel-Jumbo, the Manager, External Relations of Belemaoil, in a message of appreciation said the approval was a clear demonstration of commitment by the Buhari administration to ensure that indigenous operators are afforded the right environment within the oil industry to strengthen their operation and advance national wealth creation.
“The approval to operate its own Crude Export Terminal, Belemaoil is poised to create over ten thousand jobs and other opportunities for the teeming unemployed youths in the Niger Delta and Nigeria in general”, he said.
Also, the Board and Management of Belemaoil could not hide their appreciation to Dr. Maikanti Kachalla Baru, the Group Managing Director of NNPC, the Minister of State for Petroleum, Dr. Ibe Kachukwu, the Director of the Department of Petroleum Resources, Mordecai Ladan, the Rivers State Governor Nyesom Wike, as well as its Host Communities and other stakeholders for their support in making the feat a reality.