The Edo Refinery and Petrochemicals Limited To Commence operation soon
The Edo Refinery and Petrochemicals Limited, says it will soon commence operation at its modular refinery before the end of the year.
The fabrication of the 6,000 barrels per day (bpd) modular refinery has been completed.
It will be inspected by officials of the Department of Petroleum Resources (DPR) before it will be shipped to Nigeria.
In a statement, Special Adviser to the Governor on Media and Communication Strategy, Mr Crusoe Osagie, said the project is part of the state government’s efforts to transform Edo from a civil service state to an investment and industrial enclave.
He said the modular refinery project joins the growing list of ongoing legacy projects, which also includes the CCTEC Ossiomo Power Plant; the Benin Enterprise and Industrial Park and the Benin River Port.
He added that when operational, the refinery will produce from its feedstock 50 per cent of diesel (500,000 liters), 25 per cent of naphta (300,000 liters) and 20 per cent of fuel oil (200,000) liters.
The Edo State Government had approved the release of N700 million as redeemable preference shares (investment) in the Edo Refinery and Petrochemical Company Limited.
The project will facilitate the establishment of a fabrication yard and create basis for expertise, professionalism and further training in the oil and gas industry.
The statement added that the venture “will create legitimate employment opportunities thereby reducing poverty.
It will also boost the state’s investment in various initiatives across the oil and gas sector; petroleum exploration, drilling and filling station, sales and supply of gas, agro-allied products, petroleum and petrochemical products and other related businesses.