Intergrated Oil to build $116m refinery in Lagos
An indigenous oil and gas firm, Integrated Oil and Gas Limited, has commenced arrangements to float a $116 million modular refinery in Lagos State.
The refinery, to be situated at Tomoro Island offshore Lagos, is expected to commence production with Automated Gas Oil (AGO) otherwise known as diesel, Dual Purpose Kerosene (DPK), export quality aviation fuel, Naphta and fuel oil.
With the take-off capacity of 20,000 barrels per day (bpd), the Group Managing Director of the company, Anthony Iheanacho, said the plant would bé upgraded to produce Petroleum Motor Spirit (PMS) also known as petrol, as operations progress.
Iheanacho, who conducted journalists round the 90 hectares Tomaro Island site of the refinery at the weekend, said the facility is designed as one-stop shop to comprise refinery plant, storage falicity, flour mill, ship repair yard, helipad for aviation operations to offshore platforms and resort centres.
He said the project would also create massive employment opportunities for the youths of the country.
According to Iheanacho the plant would bé refining Escravos, Forcados blend crude, which is expected to bé delievered to the refinery through vessels for further refining.
He said the company had been given Licence to Establish (LTE) by the Department of Petroleum Resources (DPR), which will enable it to commence preliminary works on the modular refinery.
He added that work has commenced on the Environmental Impact Assessment (EIA) and other necessary requirements to facilitate the final approval for the refinery.
Iheanacho, who appeared determined on the ‘legacy project’ said the company is ready to pioneer the modular refinery regime in Nigeria to further showcase the strength of local firms.
He decried a situation whereby some suspected saboteurs were publishing malacious information about the project, adding that such efforts would rather make him wax stronger and bé more strategic in actualisng the project.
“We have not even started construction and we are not doing any dreging. We are just going through the pre-application process”, he added.