Project involves the acquisition, installation and operation of a crude oil refinery with capacity of processing 100,000 barrels of crude per day within the boundaries if the Port Harcourt Refinery. The transaction involves:
- Acquiring the refinery
- Transporting the refinery from Northern Cyprus to Port Harcourt, Nigeria
- Engaging a technical partner under an Operations & Management arrangement
- Procurement of all relevant surveys and assessments (e.g. EIA) and Completing front end engineering designs
- Installing and operating the refinery
African Refineries Limited BVI has been incorporated as the project SPV for the implementation of project. It is the vehicle into which investment funds will be warehoused.African Refinery Port Harcourt Limited will operate the asset in collaboration with O&M partners under an Operation and Management agreement.
Indicative commitment to supply feedstock obtained from both local producers and international traders.Offtake/sales:
Indication for interest to purchase refined products obtained from local and international oil trading companies.