The construction of a modular crude oil refinery in Punta Europa by Equatorial Guinea’s Ministry of Mines and Hydrocarbons, together with its strategic partner Marathon Oil Corporation, is moving closer to reality following the awarding of a contract for the viability study for the proposed construction in the port city and the capital of Equatorial Guinea, on the Bioko Island.
The contract was awarded to Houston based VFuels Oil & Gas Engineering (VFuels),a full service oil and gas engineering, design, and fabrication firm that specializes in modular process equipment.
Also Read: Equatorial Guinea, Vitol sign agreement to develop gas megahub
VFuels, as per the contract, will oversee the feasibility study for the construction of a modular crude oil refinery in Punta Europa as well as the engineering and design of a 5,000 bpd modular refinery plant that will mainly be used to supply refined products for domestic consumption in the West African country. The study is expected to be completed within a period of 12 weeks from its commencement.
An important step for the project
Gabriel Mbaga Obiang Lima, the West Africa country’s Minister of Mines and Hydrocarbons described the construction of a modular crude oil refinery in Punta Europa as an important step for the implementation of the project which has an important goal to curb stock outs and provide refined products of higher quality to economic operators and the general public.
He also quoted VFuels’ experience in their niche saying “The experience and track record of VFuels in engineering and design of modular refineries for West Africa, Latin America, Asia, and other developing economies that need valuable fuel refining and gas processing infrastructure, will be very beneficial to this project and Equatorial Guinea and that is mainly why they emerged as the best bidders.”
This project is a part of the initiative of the Year of Investment 2020 promoted by the Ministry of Mines and Hydrocarbons. The initiative seeks investments for a modular refinery in the continental region, storage tanks and the promotion of other projects derived from methanol, among others.
