By Michael Eboh

The Nigerian National Petroleum Corporation, NNPC, yesterday, disclosed that an Indonesian firm, PT Intim Perkasa Nigeria Limited, a subsidiary of PT Intim Perkasa, Indonesia, has indicated interest to build a 10,000-barrel per day modular refinery in Akwa Ibom State.

According to a statement by NNPC’s Mr. Adi Hartadi, Head of Investor Relations of PTPP (Persero) Tbk, partners to PT Intim Perkasa Nigeria Limited, disclosed this in Abuja, during a business meeting with the Group Managing Director of the NNPC, Mr. Maikanti Baru. Hartadi  said that the company has more than 50 years experience in construction,  engineering and it was desirous of diversifying into downstream operations in Nigeria.

Oil pipeline

Commenting on the planned investment in the modular refinery, Maikanti Baru said that the NNPC placed high premium on investment in the nation’s refining sector, adding that the corporation will give necessary support to the Indonesian company’s interest in the downstream sector.

Baru, who was represented by Chief Operating Officer, Refineries and Petrochemicals of the NNPC, Mr. Anigbor Kragha, said that the country’s three refineries, with a combined capacity of 445,000 barrels per day, could not function optimally over the years due to lack of investment.

Baru explained that given Nigeria’s expected population by 2025, more than 40 million litres of petrol will be required for local consumption.

He expressed optimism that with this kind of investment coming steadily, Nigeria could serve as a regional hub of refined 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 specification with regards to sulphur content.