The Republic of Benin is poised to export its first barrels of oil from the Seme offshore field to the Netherlands in November. Approximately 330,000 barrels will be loaded onto the tanker Kriti Jade on November 1-2, 2026. This development marks a new chapter in the revival of Benin's oil production, which has been dormant for several decades. The oil export is a significant milestone for the country.
The export of oil from the Seme field is a result of a partnership between Benin and Shell Trading, which was selected through a call for interest. Shell Trading will be responsible for lifting and transporting the Benin oil for a period of three years. The oil will be delivered to refineries owned by the group in the Netherlands. Initial forecasts suggested a shipment of 250,000 barrels, but this has been increased to 330,000 barrels.
The resumption of oil exports from Benin follows the reactivation of the Seme field by Akrake Petroleum, a subsidiary of Rex International Holding. The company holds a 76% stake in the project, while the Benin government holds 15% and Octogone E&P holds 9%. The company will need to reach a definitive agreement with the Benin government on the terms of exploitation of the site, including costs related to equipment used for extraction, production, and storage.
The current production capacity of the Seme field is estimated at 3,000 barrels per day. Efficient management of operational expenses could enable the operator to consider new drilling operations in block 1 to increase extracted volumes. The development of the oil sector is expected to have a positive impact on Benin's economy.
The oil export agreement is a significant step forward for Benin's oil industry, which has faced several challenges in recent years. The country has been working to revitalize its oil sector and attract investment. The partnership with Shell Trading is expected to bring in much-needed revenue and expertise.
The revival of oil production in Benin is also expected to create new opportunities for economic growth and development. The country has been investing in infrastructure and institutions to support the growth of the oil sector. The oil export agreement with Shell Trading is a major milestone in this effort.
Benin's oil production is expected to increase in the coming years, driven by new investments and developments in the sector. The country has significant potential for oil production, and the Seme field is just one of several areas being explored. The export of oil to the Netherlands is a significant step forward for Benin's oil industry.
Key points
- Benin will export approximately 330,000 barrels of oil from the Seme offshore field to the Netherlands in November 2026.
- The oil export agreement is a partnership between Benin and Shell Trading, which will lift and transport the oil for a period of three years.
- The resumption of oil exports from Benin follows the reactivation of the Seme field by Akrake Petroleum, a subsidiary of Rex International Holding.
