The National Standard Finance, LLC in conjuction with the Omega-Butler Refineries, a UK based firm has committed to construct a mini oil refinery in Port Harcourt, Nigeria. The project will have three integrated Process Units that is Deep Oil Refining (DOR), Catalytic Distillate Treatment (CDT) and Desulfurization and Gas Fractioning (DGF) unit.
Furthermore, the project will be executed in two phases. Phase one will include the installation of the DOR Unit and DGF Unit within the period of 12months. Phase two will involve the installation of the CDT Unit which will take 24months to complete. The total cost of the project is about US$1.750bn.
The project will be cited in River State built with a capacity capability of producing 1,000,000metric tons a year with an average of 20,000 barrels a day. However, the production is expected to increase to 100,000bpd once the first module has been proved to be profitable where by more modules will be introduces.
About 90% of light oil products will be produced to minimise the ongoing importation of gasoline and motor fuel as well as expense on costly traditional technologies. In this case, the extra production is intended to be sold worldwide to Omega-Refineries consumers.
The project offers employment opportunity to advanced deep crude oil processing technologies companies as the proposed project will be designed to produce environmental friendly Motor Fuels such as Petrol and Diesel that will meet the Euro-3&4 standards requirement along with high quality Bitumen known to be suitable for the construction of roads.
Seeing the project to successful completion, the River State government has committed to offer a land measuring 40 hectares. Own 80% of the project, Omega-Butler and the LNG Company will be responsible of providing the project’s funds with the NSF.
In this case Omega Refineries will construct, run, manage and provide technical expertise that will earn profit for the Plant in decades to come. Among the responsibilities Omega will also selling refined products to the current market in Nigeria via the local dealers. The project is as well expected to provide a total of 1500 job opportunity to the River State residents and a country as a whole.
