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Modular refinery to begin operation in 2020

The 5,000 barrels per day modular refinery being developed by Waltersmith Refining & Petrochemical Company Limited with equity investment from the Nigerian Content Development and Monitoring Board (NCDMB) would be completed in May 2020.

This date was confirmed by the Executive Secretary of NCDMB, Engr. Simbi Kesiye Wabote and the Director of Finance and Personnel Management, Mr. Isaac Yalah inspected the project site on Monday at Ibigwe, Imo State, in company of the Chairman of Waltersmith, Mr. Abdulrasaq Isah and the Executive Vice-Chairman, Mr. Danjuma Sale.

The progress completion of the project stands at 65 per cent, seven percent ahead of the original schedule. The engineering and procurement components had also been completed, with construction at 60 per cent.

Giving his assessment after taking a tour of the site, Wabote described the project as investment channelled in the right direction. He hailed the contractors-Lambert Electromac and Zerock for their remarkable pace of execution, dedication and expertise, noting that they continued with the project despite the onset of the rainy season.

He also expressed delight with the high number of Nigerians working on various aspects of the project, stating that it underscores President Mohammed Buhari’s commitment to create employment for young Nigerians from the activities of the oil and gas industry. “I hope similar projects would come on stream pretty soon to generate employment for Nigerians.“

In line with the requirements of the succession plan requirements of the Nigerian Content Act, Wabote charged the contractors to train and absorb more Nigerians in senior management positions and make them permanent members of their companies, even after the project phase.

Wabote also noted that the Ibigwe modular refinery was the first of such projects to be undertaken by the NCDMB and Watersmith and hinted that the Board had sanctioned another modular refinery project to be developed at Calabar, Cross River State.

In his comments, the Chairman of Waltersmith thanked the Executive Secretary for the visit and affirmed that the company was satisfied with the quality of work from the contractors. He also noted that Waltersmith had been steadfast on its obligations to the firms. “We expect you to remain consistent with us as well. But we are very happy with what we have seen and we are looking forward to commissioning and beginning to sell diesel and kerosene from this site in May 2020.”

The Project Manager of Lambert Electromac, Mr. Mohamad Chit stated that all outstanding construction at the site were above the ground and being fast tracked. He stated that the installation stage is expected to take four weeks when it begins in October 2019.

Chit also said the modular refinery project begun on a good footing with the host community and had continued to enjoy conviviality from the local population.

The Board and Waltersmith signed the equity investment agreement in June 2018. Wabote had explained at the ceremony that the investment decision was in line with the Board’s vision ‘to be the catalyst for the industrialization of the Nigerian oil and gas industry and its linkage sectors.’

He added that the Board was also keen to support the Federal Government’s policy on modular refineries and meet the key objectives of the Petroleum Industry’s Seven Big Wins launched by President Mohammed Buhari in October 2016 and the Economic Recovery and Growth Program (EGRP).

Kachikwu to x-ray oil and gas investment opportunities at NCDMB forum

Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu has been confirmed as lead discussant on the available and emerging investment opportunities in the Nigerian Oil and Gas Industry, at the forthcoming Nigerian Oil and Gas Opportunity Fair (NOGOF).

Kachikwu is to play a lead role in the discussions at the forum on the values of stake holder’s investment in the oil and gas industry, according to a Leadership report.

The Minster’s participation was confirmed by the executive secretary of NCDMB, Engr. Simbi Wabote. The event is scheduled to hold on April 4-5 2019, at the new headquarters of the Nigerian Content Development and Monitoring Board (NCDMB) in Yenagoa, Bayelsa State.

One of the major roles of the NCDMB is to establish, maintain and operate the Joint Qualification System (NOGICJQS), in conjunction with industry stake holders

Wabote also disclosed that the group managing director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru and chief executives of the international operating companies are also expected at the event themed “Maximizing Investments into the Nigerian oil and gas”.

Wabote added that “it is important for the investors and other stakeholders to have a line of sight to projects opportunities in the funnel so they can position themselves for the desired growth.’’

According to him, NOGOF forum is  to share information about available opportunities to investors who had established fabrication yards, engineering houses, pipe mills, pipe coating yards, cable manufacturing and other facilities since the implementation of the Nigerian Content Act in 2010.