Modular Refinery: Commissioning of 5,000 BPD Modular Refinery, in the Ibigwe Field, in ImoState.
- Groundbreaking took place Sept 2018
- This is phase 1 of a 50,000 BPD Refinery
This project is a fulfillment of President Muhammadu Buhari commitment to supporting modular refinery investment
The 5,000 BPD Refinery being commissioned today by Pres. Buhari will produce 271m liters of petroleum product annually. Since it commenced evacuation of products in Nov 2020, it has already delivered 5 million litres of product into the Nigerian market, according to the company.
The next phase of this Project will be a 45,000 BPD Refinery, with a completion timeline of 24-30months. When completed, the Refinery will utilize 16 million barrels of crude oil annually, according to Simbi wabote, Executive Secretary of Nigerian Content Development and Monitoring Board “I thank President Muhammadu Buhari for associating strongly with Nigerian Content Development and Monitoring Board. One of our mandates is to develop in-country capacities/capabilities to add value to Nigeria’s hydrocarbon resources. This is why we chose to partner with WalterSmith, when they came knocking 2018. Today we’re celebrating completion & commissioning of the project. The Federal Government’s target is that at least 10% of Nigeria’s crude and condensate production should be refined through modular refineries. The FG’s investment in ongoing modular refinery projects so far amounts to 80,000 BPD of combined modular refining capacity. The Federal Government’s Refining Roadmap consists of 4 pillars:
- Greenfield projects, and
- Modular Refineries
We have assured that we will make feedstock available to this refinery, as Mr President has directed. Minister of State, Petroleum Resources, @HETimipreSylva This is only the beginning; there are a lot of other modular refineries under construction. Refinery being commissioned today will refine 5,000 barrels per day of crude oil and produce 271m litres of refined petroleum products annually.
- Second Module: 25,000bpd
- Third Module: 20,000bpd
- An Industrial & Innovation Park will also be established, with 300MW of electricity.
WalterSmith Petroman Oil Limited owns 70% of the Refinery being commissioned today, while Nigerian Content Development and Monitoring Board on behalf of the Federal Government of Nigeria holds 30% equity.
“We already have over-subscription of our [refinery] products.”
— Chikezie Nwosu, Chief Executive Officer, WalterSmith Petroman Oil Limited.