Ozza Joint Ventures plans $100m oil refinery in Abia

A consortium of indigenous oil refinery companies known as Ozza Joint Ventures Oil Field Limited is to start refining crude oil in Umuokwo, Ukwa West of Abia State with a whopping sum of $100 million.

The consortium, Millennium Oil and Gas Limited, Emerald Oil and Gas and Hardy Oil Nigeria Limited, said the group has so far spent about $1 billion on various tests that will spur the commencement of production.

Leader of the group, Andrew Uzoigwe, who disclosed this at the Executive Chambers of Government House when the group paid a courtesy visit to Governor Theodore A. Orji, hinted that the group was the first indigenous one to align with the Federal Government in the oil sector.

Uzoigwe said that during the period the group was carrying out tests, the atmosphere was not investor-friendly due to the activities of kidnappers. He however added that the situation was back to normal.

According to him, the group is on the verge of getting its flow station, adding that it has already signed a memorandum of understanding with the host communities.

He solicited the support of the governor, noting that the group still has challenges with the Nigeria Security and Civil Defense Crops and Mobile Police that have besieged its operational base Uzoigwe pleaded with the governor to prevail on the NSCDC operatives to vacate the base and also assist the group in the court case hanging on them as a result of communication gap.

“Now that we have finished the testing, we would like to go into commercial production so that the first product will be brought to you for us to showcase that indigenous companies can do better,” said Uzoigwe.

It would be recalled that NSCDC operatives arrested some staff of Ozza Joint Ventures Oil Field Limited for alleged illegal drilling of oil at Ukwa West barely a fortnight ago and charged them to court.

Governor Orji, in his response, however said if the organisation had earlier informed him of their activities in the state, nobody would have harassed them.

He said that initial information reaching his office alleged that the oil firm was operating illegally until recently when he found out that was not the case, pledging the readiness of his administration to partner with the investors.

One Comment

1. 

   Longinus Uche

   September 7, 2011 at 6:57 am

   Government at all levels and the organized private business sector should emulate this laudable venture by Ozza to lift the teaming unemployed youth of this country from perpetual hopelessness and poverty.