African Refinery Group (ARG), the LOT1 Concession and operator of several of NNPC’s downstream crude oil and refined petroleum products pipelines, storage depots, supply distribution facilities and other related and ancillary infrastructure, said it has commenced the revamp of the Bonny Export Terminal (BET) facilities located in the Port Harcourt Refinery, Rivers state.

A statement issued by the Group’s Executive Director in charge of subsidiaries, Omotayo Adebajo, said the job marked the second downstream facility in the Port Harcourt Refinery that the company would be revamping under the 17-year Concession Agreement with NNPCL signed last July.

ARG had previously implemented a revamped programme for PHRC Loading Terminal in time for the restoration of production and the resumption of crude oil processing at the Port Harcourt Refinery on 26 November.

Bonny Export Terminal (BET), which comprises the onshore facilities adjourning PHRC, the offshore export platform and the interconnecting pipeline system was commissioned 24 years ago but was never used since commissioning.

According to the company, the announcement of the commencement of the revamp is in fulfillment of its contractual obligations to NNPCL under the concession agreement to turn around BET, expand Port Harcourt Refinery’s crude oil import and export operational capacity, create additional revenue streams for NNPCL and prevent economic loss to the country.

ARG said it was happy to have been given the opportunity to continue to play its part as one of the four companies that were granted concessions under a public-private partnership (PPP) with NNPCL to operate several of its downstream supply and distribution facilities.

The statement added that the new milestone was a further testament to the unwavering commitment and courage of the Tinubu administration, the NNPCL’s leadership and that it could have only been achieved with the support from various NNPCL subsidiaries, including Port Harcourt Refinery, Nigerian Pipelines and Storage Company Limited and NNPC Exploration and Production Limited (NEPL).