June 21, 2024

Otti to support PETAN to set up oil refinery in Abia


By Ugochukwu Alaribe

Abia State Governor, Dr Alex Otti, has assured that his administration will provide the Petroleum Technology Association of Nigeria ,PETAN, with the needed support for the proposed establishment of an oil refinery in the state.

Otti gave the assurance when he received a delegation of the PETAN led by its Chairman, Engr. Wole Ogunsanya ,who came to ascertain the possibility of setting up an oil refinery in the state.

Otti stated that the state government will engage with PETAN to see how they can partner as joint venture to realize the project.

The Governor also assured the delegation that Abia has lots of assets that have not even been identified, stressing that beyond oil and gas, the state boasts of other resources in Ukwa West council area and other areas that are yet to be explored.

“We have some assets that have been identified beyond Ukwa West. Oil activities today in Abia is centered around Ukwa West and I have it on good authority that other areas of the state have reserves that could be harnessed.

“And by the time we have serious players, you begin to explore some of these places around Umunneochi and other places

“I will like to inform you that we are willing to work with you. We will see how we can partner. We take our partnership very seriously and I want to thank you for identifying us as one of the first states.

“If there is any support you need, do not hesitate to reach out to us. I would like to give you timeline , so that we won’t just be talking. I would like to be briefed every fortnight on how you are doing.”

Also Speaking, the Commissioner for Petroleum resources Professor Joel Ogbonna,said the opportunity will take the state to another level as there are about 100 hundred capped Oil wells yet to be tapped, adding that if realized Abia will be among the top oil players in the world.

Earlier, the leader of the delegation and Chairman of PETAN ,Engr. Wole Ogunsanya ,said their visit was to see how best to support the state realize its full potential in the oil sector.

“We have enaged in discussions with the government on having a refinery in the state

which would serve the state and neighboring states. This is the first state where we would be executing this programme/project

“We have a programme that the association desires to use in supporting the state using the resources that the state has on ground.

“We own the equipment that would find the oil and bring it out of the ground this would make the work easy for us.”

He said that PETAN an indigenous company providing oil and gas services is willing to collaborate with the Abia state government in establishing a refinery to serve Neighbouring states, stressing that it has all it takes to develop the oil and gas sector of the state.

He explained that Abia would be the first state to benefit from the proposed joint venture model which will increase the state IGR, create direct foreign exchange and employment opportunities.