The Nigerian National Petroleum Corporation (NNPC) has said that the Port Harcourt Refinery which is undergoing a $1.5 billion rehabilitation will start delivering refined products by September 2022.
This is coming after the NNPC, earlier in April 2021, officially signed the contract with Tecnimont SPA for the rehabilitation of the refinery.
$1.5 billion rehabilitation of the Port Harcourt Refining Company has commenced in full and part of the facility will start delivering refined products by September next year, the Nigerian National Petroleum Corporation has said.
The NNPC officially signed the contract with Tecnimont SPA for the $1.5 billion rehabilitation programme of PHRC on April 6 and parties in the agreement announced the commencement of the project.
According to Punch, the Group General Manager, Group Public Affairs Division, NNPC, Kennie Obateru, assured Nigerians that some part of the facility would deliver products in September 2022 adding that the entire rehabilitation programme would be over in 44 months as the contractor had already mobilised to site.
What the NNPC Group General Manager is saying
Obateru said, “The work is progressing. We said it will be completed within 18 to 44 months when counting from April this year. By 18 months, some part of the refinery will be producing. The total rehabilitation job will be completed in 44 months.
“Why we said between 18 and 44 months is the fact that it will not be at the end of 44 months before the refinery starts working, but that in 18 months, some sections of the refinery will start producing.”
When asked specifically if refined petroleum products would be produced from the facility in 18 months’ time, Obateru replied, “Yes, some aspects of the plant will be producing (products).”
What you should know
NNPC had on April 6, 2021, signed an Engineering, Procurement & Construction (EPC) contract with Tecnimont SpA, a subsidiary of Maire Tecnimont for the rehabilitation of Port Harcourt Refining Company.
The NNPC while giving the reason the Federal Government is spending the huge sum of $1.5 billion on the Port Harcourt refinery, said that the funds approved for the 210,000 barrels per day capacity refinery was for complete rehabilitation and not turnaround maintenance.
Nigeria currently imports refined petroleum products from other nations despite being a major exporter of crude oil in Africa with NNPC being the sole importer of petrol, into Nigeria for over 3 years and incurring huge costs as subsidies on the commodity.
Tilije chibuzor am a graduate of business administration and management with over six years working experience in the financial service sector.