Integrated Oil and Gas Limited at the weekend said it will ensure that its $116 million refinery would be a reference point in Nigeria.
Group Managing Director of the firm, Anthony Iheanacho addressed newsmen during a facility tour of the refinery last weekend in Lagos.
Iheanacho disclosed that the company has submitted its Front End Engineering Design (FEED) to DPR and was awaiting approval to move to the Authority to Construct stage (ATC).
Iheanacho said modular refineries are not economical, the reverse is the case because such refineries have lowe risk exposure compared to bigger refineries.
The GMD said Upon completion, the refinery will produce naphtha Automotive Gas Oil (AGO), Household Kerosene (HHK), Low Fuel Pour Oil (LFPO), Dual Purpose Kerosene (DPK) and with aim of producing petrol later.
He said the refinery is to be built on 90 hectares of land and is to have a huge strategic reserve,a helipad to cater for its aviation business logistics, ship repair yard and flour mills.