Sahara Upstream deploys 380,000-barrel tanker to OML 18

Crude oil producer Sahara Upstream has deployed a 380,000-barrel crude tanker to Nigeria’s offshore OML 18 block, aiming to streamline crude transfers and support a targeted 50% export volume increase

Crude oil producer Sahara Upstream deployed a 380,000-barrel crude tanker, the MT D Adesanya, to Nigeria’s offshore OML 18 block. Operating at Bonny Anchorage alongside shuttle vessels, the asset will streamline crude transfers to FSO Cawthorne, cutting vessel turnaround times and supporting a targeted 50% export volume increase.

The deployment of the MT D Adesanya is a significant investment in Nigeria’s oil and gas infrastructure. The tanker will improve the efficiency of crude transfers, reducing turnaround times and increasing export volumes. The targeted 50% increase in exports would generate additional revenue for the government.

This echoes the 2020 deployment of similar vessels to Nigeria’s offshore blocks, which also sought to improve export efficiency. The mechanism then was different, but the result was the same: a focus on improving the efficiency of Nigeria’s oil exports.

The winners: Sahara Upstream, which will benefit from increased efficiency; and the Nigerian economy, which gains from increased exports. The losers: the Nigerian government, which must ensure that the increased exports benefit the broader economy; and the Nigerian public, who must wait for the benefits.

Bottom Line: Sahara Upstream has deployed a 380,000-barrel tanker to OML 18. The goal is to boost exports by 50%. The question is whether the target will be met or remain aspirational.