A Chinese firm,
Sino Arab Energy, SAE, in partnership with a local firm, Osabo Refining and
Petrochemical Industry Limited, have concluded plans to build a refinery in
Akpabuyo Local Government Area of Cross River State.
Sino Arab Energy, SAE, in partnership with a local firm, Osabo Refining and
Petrochemical Industry Limited, have concluded plans to build a refinery in
Akpabuyo Local Government Area of Cross River State.
Agreements for the construction of the refinery which is expected
to refine 107,000 barrels of crude per day have been signed by the partnering
firms. It , and is valued at about $7.5billion.
to refine 107,000 barrels of crude per day have been signed by the partnering
firms. It , and is valued at about $7.5billion.
Hon Etim Effiong Okon, a member of the management team of Osabo
Refining, said the process for the procurement of requisite licenses to
establish and operate the refinery had fully commenced, while Akwa Esuk Eyamba,
the community where the refinery will be located, had donated 500 hectares of
land for the refinery.
Refining, said the process for the procurement of requisite licenses to
establish and operate the refinery had fully commenced, while Akwa Esuk Eyamba,
the community where the refinery will be located, had donated 500 hectares of
land for the refinery.
Okon, who represents Akpabuyo constituency in the state House of
Assembly, also said the project partners will engage in the acquisition,
exploration and development of oil blocks in the future, to complement refining
operations.
Assembly, also said the project partners will engage in the acquisition,
exploration and development of oil blocks in the future, to complement refining
operations.
He further revealed that the partners will also engage in the
development of independent power plant, and the production of natural gas and
oil; and real estate within the Niger Delta region as well as the West African
Continental shelf.
development of independent power plant, and the production of natural gas and
oil; and real estate within the Niger Delta region as well as the West African
Continental shelf.
According to the lawmaker, the refinery is expected to be
completed within five years, with the first phase slated to commence in 2014.
completed within five years, with the first phase slated to commence in 2014.
“Other areas of activities include but not limited to gathering
and the treatment of gas, establishment of industries and cogeneration,” he
said.
and the treatment of gas, establishment of industries and cogeneration,” he
said.
Okon said the refinery would be built with stringent specification
to meet international standard and its “product base will include Premium Motor
Spirit, PMS, or petrol, kerosine, jet fuel, diesel, automotive gas oil, low
pour fuel oil, high pour fuel oil, motor oil, lubricants and liquefied
petroleum gas.”
to meet international standard and its “product base will include Premium Motor
Spirit, PMS, or petrol, kerosine, jet fuel, diesel, automotive gas oil, low
pour fuel oil, high pour fuel oil, motor oil, lubricants and liquefied
petroleum gas.”
He said that over 10,000 jobs would be generated when the projects
are completed and fully operational, adding that these will significantly
improve the lives and socio-economic well being of people within and outside
Cross River State.
are completed and fully operational, adding that these will significantly
improve the lives and socio-economic well being of people within and outside
Cross River State.
