The leadership of Waltersmith Petroman carried out a site visit of the Waltersmith modular refinery being constructed in southeastern Nigeria, with Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons of Equatorial Guinea as its guest.
Developed by Waltersmith Petroman Oil in partnership with the Nigerian content development and monitoring board, the modular refinery embodies Africa’s efforts to generate local value by refining its own oil at home. The refinery is on schedule for inauguration in May 2020, at a time when its phase two will start to boost refining capacity from 5000 boe/d to 30 000 boe/d.
The refinery is also a path opener for many Nigerian operators of marginal fields, demonstrating how the exploitation of smaller assets such as Waltersmith’s Ibigwe field can generate value from upstream to downstream and help African nations meet their energy security agenda.
During his visit of the site, Gabriel Mbaga Obiang Lima commented: “I am truly impressed by the nature and advancement of this project […] I share our industry’s belief that it is high time for Africans to start refining and processing our own crude at home to maximise our energy security, create local jobs and add value to our economies. Creating the right public-private partnerships will be of great benefit to all of countries and business leaders.”
Read the article online at: https://www.hydrocarbonengineering.com/refining/20012020/waltersmith-modular-refinery-visited-by-equatorial-guineas-minister-of-mines-and-hydrocarbons/
You might also like
According to Wood Mackenzie, the European Commission’s price cap announcement would not severely impact Russian refiners.