The Nigerian National Petroleum Corporation, NNPC has announced that an Indonesian firm, PT Intim Perkasa Nigeria Limited, has proposed to build a 10,000-barrel per day modular refinery in Akwa Ibom State.
According to Mr Adi Hartadi, NNPC’s Head of Investor Relations of PTPP (Persero) Tbk, partners to PT Intim Perkasa Nigeria Limited, said that the company has over 50 years experience in construction engineering and it was interested in spreading into downstream operations in Nigeria.
Speaking on the planned investment in modular refinery, Maikanti Baru revealed that the NNPC was ready to give necessary support and cooperation to the Indonesian company’s interest in the downstream sector, as high importance is placed on investment in the nation’s refining sector.
Baru, who was represented by Mr. Anigbor Kragha, Chief Operating Officer, Refineries, said that the country’s three refineries, with a joined capacity of 445,000 barrels per day, could not function efficiently over the years due to lack of investment.
He explained that with the expected population growth by 2025, more than 40 million litres of petrol will be needed for local consumption.
He believes that with this kind of steady investment, Nigeria could serve as a regional reserve of refined petroleum products for West Africa and beyond.
He however cautioned the investors to practice clean and safe fuel policy across African countries and ensure that they adhere to the fuel production specifications regarding sulphur content.