Business
Indonesian firm finalises plans to build refinery in Nigeria
The Nigerian National Petroleum Corporation (NNPC) has announced that an Indonesian engineering firm, PT Intim Perkasa, will soon embark on building a refinery in the country.
Disclosing this on Wednesday in a statement, the NNPC spokesman, Ndu Ughamadu, said the engineering firm would be siting a moderate refinery, capable of producing about 10,000 barrels of crude oil per day.
“We have embarked on an ambitious plan to fast-track programmes to restore our capacity utilization from 30 per cent to a minimum of 90 per cent in the next 24 months.
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“To do that, we are working on securing financing from third parties, not just funding, but also technical expertise,” Ughamadu quoted Maikanti Baru, NNPC group managing director, as saying.
One of the senior officials, of PT Intimate Perkasa Nigeria Ltd, a subsidiary of the Indonesian company, said, ” We have already indicated interest in building a modular refinery in the southern Akwa Ibom state. We are in agreement with the NNPC”.
The Minister of State, Petroleum, Ibe Kachikwu, recently said that some foreign firms had been indicating interests in being part of the modular refinery programme.
This is part of government policy of accommodating the pockets of crude oil refining exercise by some young people in the Niger Delta region.
Some Nigerians living outside its shores have also shown interest in coming into the venture, all aimed at reducing importation of more than 75 per cent local consumption of petroleum products into the country.
Old age and lack.of proper maintenance have made it impossible for the four refineries in Nigeria to have full capacity production, as against their output of the four complex being put at 445,000 barrels per day (bpd).
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