CENTURY ENERGY GROUP PARTNERS WITH ENERGY LINK INFRASTRUCTURE FOR THE SPREAD MOORING COMPLETION, OPERATIONS AND MAINTENANCE OF THE FSO ELI AKASO TERMINAL

LAGOS, Nigeria, April 3, 2023 /PRNewswire/ -- Century Energy Group (CG) is proud to announce its partnership with Energy Link Infrastructure (Malta) Limited (ELI) for the completion, operations and maintenance of the ELI AKASO floating storage and offloading (FSO) terminal in Oil Mining Lease (OML) 18. This project is a critical component of the Alternative Crude Oil Evacuation System's (ACOES) infrastructure, which is in line with our corporate vision of supporting stranded oil and gas asset commercialization and production enhancement through energy infrastructure services.

Under a Risk Service Contract, CG has deployed its personnel, infrastructure, and expertise towards the engagement and has made significant progress in the completion of FSO Eli Akaso spread mooring. CG is scheduled to complete the spread-mooring by 10th April 2023. Upon completion of the spread-mooring for the ELI Akaso, CG will be responsible for the daily operations and management of the FSO ELI AKASO terminal. The Terminal will serve as a dedicated crude oil storage and export terminal for OML holders and Marginal Field producers in the Eastern Niger Delta, inclusive of the OML 18 JV, and other stranded satellite fields.

ELI's ACOES infrastructure comprises a new 47km secure undersea pipeline from OML 18 and the FSO ELI AKASO terminal. This ACOES infrastructure will enhance crude oil commercialization primarily through the reduction of downtime and crude losses associated with the existing export routes. The pipeline component is expected to have a throughput capability of 100,000 barrels per day (b/d) of oil, while the FSO ELI AKASO has a storage capacity of 2 million barrels of oil.

"We are thrilled to announce our partnership with Energy Link Infrastructure for the spread-mooring installation, and operations and management of the FSO ELI AKASO," said Ken Etete, Group CEO of Century Energy Group. "This collaboration marks a significant milestone for Century Energy Group as we continue to expand our reach and capabilities in the energy infrastructure sub-sector. With ELI's expertise and experience in the industry, we are confident in our ability to provide world-class services and maximize the potential of this project."

Kolapo Ademola, CEO of ELI, commented, "ELI is delighted to collaborate with Century Energy Group. CEG's proven expertise and experience in the sector provides ELI with a reliable partner towards the attainment of our corporate goals within the midstream oil and gas sector in Nigeria. Our collaboration with CEG expedites our ability to deliver value to our key partners and stakeholders; Crude Oil producers in the Eastern Niger Delta, the Federal Government of Nigeria and the Nigerian economy at large."

Century Energy Group remains committed to the development of the oil and gas sector in Nigeria and is confident that this partnership with ELI will contribute significantly to the sector's growth and the Nigerian economy at large.

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