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FG meets investor over modular refinery

By on April 3, 2017

Federal government has assured American energy investors of security and enabling environment for the takeoff of a multi-billion-dollar modular refinery project in Gbaramatu Kingdom of Delta State.

Petroleum minister Ibe Kachikwu was in talks with a delegation fro m Missouri American Energy at the weekend.

He told the delegation, that President Mohammadu Buhari is deeply worried about the huge environmental degradation and environmental pollution that is associated with the unprofessional, unscientific and unconventional methods being adopted by local refinery operators in the country, hence the Federal government has taken a decision to encourage the establishment of modular refinery with serious encouragement to local refinery operators to key into the project.

“The President is so concerned about the Niger Delta environment and has assured the ministries and all its agencies of his readiness to ensure that some of the bureaucratic requirements needed for the establishments of such a refinery would be relaxed so that foreign investors Missouri American Energy Moham and Community Capital Group of Canada can be encouraged to do business under the new dispensation”, the petroleum minister told the delegation.

According to the Minister the Federal government is desirous on how the Niger Delta could be encouraged to do legitimate petroleum refining business without necessarily hurting the environment or creating other environment problems.

The Minister who was represented by Engineer Rabiu Suleiman, Executive Director/Coordinator Nigeria National Petroleum Corporation (NNPC) Refinery, Downstream and Infrastructural Development, commended Gbaramatu Kingdom for coming up with such laudable foreign partnership initiative and keying into the Federal Government policy of discouraging illegal and hazardous method of refining petroleum products.

Earlier, leader of the delegation and representative of Gbaramatu Oil and Gas Producing Trust Fund (GOGPTF) the promoters of the Gbaramatu Modular Refinery Chief Dr. Wellington Okirika said Gbaramatu oil and gas producing trust fund is a group of major oil and gas producing communities in Gbaramatu Kingdom Escravos, Warri South West Local Government Council of Delta State

Chief Okirika explained that rhe trust fund covers eight (8) flow stations of Jones Creek, Odidi I and Odidi II  Egwa I and  Egwa II, all former SPDC flow stations now being operated by Nigerian Petroleum Development Company (NPDC). Other includes Abiteye, Otunana and Makaraba flow stations all operated by the American oil giant Chevron Nigeria Limited.

According to Chief Okirika the 20,000 barrels per day production facilities we no doubt encourage grass root development and peace process in the Niger Delta.

“Already the project site has been surveyed and cleared, feasibilities studies and bankable business plans have been prepared by Financial Bridge, Miami USA. All that is needed now is friendly governmental policies that will encourage the growth and sustainability of such business ventures”, Chief Okirika disclosed.

President of Missouri American Energy Moham, Henry Iwenofu, said already $200 million earmarked for the take off of fabrication and installation of Modular refinery components in the USA and Nigeria respectively is intact.

 

[DailyTrust]