By Patrick Andrew Abuja
Indonesian fi rm, PT Intim Perkasa Nigeria Ltd, has indicated interest to build a 10, 000 barrels per day modular refi nery in Nigeria. Th e fi rm, a subsidiary of PT Intim Perkasa, Indonesia, said during a business meeting with the Nigerian National Petroleum Corporation (NNPC), Group Managing Director, Dr. Maikanti Baru, stated that the proposed refi nery would be located in Akwa Ibom State.
Head of Investor Relations of PTPP (Persero) Tbk, partners to PT Intim Perkasa Nigeria Ltd, Mr. Adi Hartadi, said the refi nery, a modular one, will have refi ning capacity for 10,000 barrels per stream day. Mr Hartadi, who revealed that the Indonesian fi rm has more than 50 years of experience in construction and engineering, was desirous of diversifying into downstream operations in Nigeria.
Dr. Baru, who was represented by the corporation’s Refi neries and Petrochemicals Chief Operating Offi cer (COO), Engr. Anigbor Kragha, lauded the company for the interest and declared that the NNPC placed high premium on investment in the nation’s refi ning sector. According to him, the corporation had a Greenfi eld Refi nery Department that specialized in new refi nery projects and also provided professional support to potential investors in modular refi nery in the country in line with the Federal Government policy on modular refi neries.
He explained that the country’s three refi neries with a combined capacity of 445,000bpd could not function optimally over the years due to lack of investment, adding that NNPC would give necessary support to the Indonesian Company interest in the downstream sector. “On our end, we have embarked on ambitious plan to fast-track programmes to restore our capacity utilization from 30 per cent to a minimum of 90 per cent in the next 24 months. “To do that, we are working on securing fi nancing from third parties, not just funding, but also technical expertise to help us increase our performance to world class levels that they should be,” Dr. Baru stated.
Th e GMD said by 2025, Nigeria would need more than 40 million litres of petrol to meet local consumption, adding that the combined capacity of the nation’s 3 refi neries would only be able to satisfy just above 50 per cent of the projected local demand. He expressed delight with the steady stream of investment coming into the country stating that Nigeria could serve as a regional hub of refi ned petroleum products for West Africa and beyond. He called on the investors to be mindful of clean fuel policy across African countries and ensure that they produce fuels that meet specifi cation with regards to sulphur content