By Ikenna Omeje
The Nigerian National Petroleum Corporation (NNPC) has signed Engineering, Procurement and Construction (EPC) contract with an Italian firm, Maire Tecnimont SpA, for the rehabilitation of Port Harcourt Refining Company (PHRC) complex.
The Federal Executive Council had in March approved the sum of $1.5 billion for the rehabilitation of PHRC, which is the largest refining company in the country.
The complex is composed of two refineries totaling an overall capacity of approximately 210,000 bpd (barrels per day).
Speaking at the sign-off ceremony, the Group Managing Director of the NNPC, Mallam Mele Kyari, said that the Corporation in line with the promised by President Muhammadu Buhari to fix the country’s refineries, will continue the same process to also deliver both Warri Refining & Petrochemical Company and Kaduna Refining & Petrochemical Company.
“Mr President promised Nigerians he’ll fix the refineries. We’re happy to deliver on this Presidential mandate. We’ll continue this process to also deliver on both Warri and Kaduna refineries,” Kyari said.
“I can confirm to you that nobody has been delegated by anybody in this company to work for (the interest of) anyone other than the mandate of delivering on this rehabilitation project.”
According to series of tweets via its verified Twitter handle @NNPCgroup on Tuesday, the national oil company said that the Managing Director of Port Harcourt Refining Company, Ahmed Dikko, signed for PHRC, while the Vice President, Sub-Saharan Africa, Davide Pellizola, signed for Maire Tecnimont.
Meanwhile, Maire Tecnimont in a release on Tuesday said that the project will be delivered in phases from 24 and 32 months and the final stage will be completed in 44 months from the award date, adding that the full rehabilitation of the refinery complex, is aimed at restoring the complex to a minimum of 90 percent of its nameplate capacity.
Speaking on the signing of the EPC contract, Maire Tecnimont Group Chief Executive Officer, Pierroberto Folgiero, said, “With this great result we confirm the soundness of our business strategy on geography diversification, as one of its key elements is to grow and assist our clients in their revamping initiatives, leveraging on our technological know-how to ensure more efficient and environmentally better performing processes and products. It represents a testament of our technological DNA, as we are strongly increasing our focus on initiatives for the modernization of the refining sector, such as these strategic rehabilitation works. Moreover, we enhance our footprint in Nigeria and in Sub-Saharan Africa, a market with excellent downstream prospects given its demographics and the necessity to unlock greater added value from the transformation of natural resources. We are eager to keep on supporting a leading player in the area such as NNPC to develop Africa’s downstream sector.”