NNPC hands over PH refinery to contractors for $1.5b rehab

The Nigerian National Petroleum Corporation (NNPC) Thursday handed over the Port Harcourt Refinery to Tecnimont SPA for the commencement of the $1.5 billion rehabilitation.

The Group Managing Director of NNPC, Mele Kyari, who spoke at the event insisted that the first phase of the work would be completed in 24 months, adding that over 3, 000 Nigerians would be employed to complete the work.

Represented by the Chief Financial Officer of the corporation, Umar Ajiya, Kyari noted that the country must do anything possible to refine its crude to stop total dependence on importation.

The Federal Executive Council (FEC) presided over by President Muhammadu Buhari, had approved $1.5billion (about N575b) for rehabilitation of the 32-year-old refinery.

Minister of State for Petroleum Resources, Timipre Sylva, had explained, thereafter, that contract for the rehabilitation was awarded to an Italian firm, Tecnimont SPA, and would be executed in three phases. The first phase is expected to be completed within 28 months, Sylva said, adding that the second and third phases would be completed in 24 and 44 months.

Urging the contractors to deliver the product accordingly, Kyari said: “It is the highest expectation of Nigerians that they see their refineries up and running.”

Yinusa Yakubu, who is the Chief Operating Officer, Refinery at NNPC, equally stated the project would create lot of opportunities, including engaging over about 3000 Nigerians.

To him, the number of expatriates at the site would be less than 2.5 per cent or about 70.