An Oil Refinery
An Indonesian company PT Intim Perkasa Nigeria Limited a subsidiary of PT Intim Perkasa of Indonesia has concluded plans to set up a 10,000 BPD refinery in Akwa Ibom State, part of the Niger Delta area of Nigeria. This news was released in Abuja by the Nigerian National Petroleum Cooperation NNPC. The refinery when established will be the first of such modular refinery in that part of the Niger Delta.
The news was purportedly disclosed during a business meeting between the Indonesian company’s representatives and the NNPC management.
Throwing more light on the planned refinery, Mr. Adi Hartadi head of investors relations of the PTPP (Persero) Pbk partners to PT Intim Perkasa Nigeria Limited stated that the company is well grounded to delve into the downstream sector of the petroleum industry having garnered over 50 years’ experience in the areas of construction and engineering.
NNPC Towers in Abuja
The NNPC on her part pledged to give the company all the necessary support to enable them to succeed in the venture. Represented by the NNPC Chief Operating Officer Refineries and Petrochemicals. The NNNPC boss regretted that all the three refineries in Nigeria with a combined output of 445,000 are not operating optimally because of lack of investment.
Baru, the NNPC Group Managing Director declared his optimism that this and other such investments will transform Nigeria into a regional hub for the distribution and sale of petroleum products throughout West Africa. He also reiterated the Nigerian government resolved to encourage similar investments in the petroleum industry in order to utilize the abundant natural resources abound in the country.
Baru however, cautioned the would-be investors to be mindful of the quality of the product they will be producing as what is expected is a clean fuel with very low sulphur component.
According to Baru “on our part in the NNPC we have embark on ambitious plan to fast-track programmes to restore our capacity utilization from 30% to a minimum of 90% in the next 24 months. To achieve this we are working on securing financing from third parties, not just funding but also technical expertise to help us increase our performance to world class levels that they should be”.
Baru also revealed the setting up of a Greenfield Refinery Department in the NNPC that specializes in new refinery projects and also provides professional support to potential investors in modular refinery in the country.
Responding the Third Secretary for Economic Affairs, Indonesian Embassy in Nigeria who led the delegation Mr. Dwiyatna Widinugraha stated that the visit was a follow-up to the earlier visit by the Indonesian envoy to the NNPC, the bilateral meeting between the Indonesian Trade Minister and his Nigerian counterpart and the visit of the Indonesian Prime Minister to Nigeria whereby the intention of the Indonesian Government to buy more crude oil from Nigeria was expressed.
It would be recalled that several months ago the Nigerian Federal government approved the establishment of Modular refineries all over the Niger Delta region as a way of checking incessant illegal refineries, vandalisation of crude oil pipeline and oil theft.