Nigerian National Petroleum Corp. (NNPC) has announced that General Electric (GE) has proposed to invest in Nigeria’s three refineries located in Port Harcourt, Warri and Kaduna.
In a presentation to NNPC GMD Dr. Maikanti Baru and his team, stated that the company’s teams of partners, including its consortium involving the engineering, procurement and construction (EPC) partners, off-takers, traders and some financiers, would be engaged in the initiative.
The NNPC quotes GE as stating: ‘’We were involved in the tenders that started around last year, which was subsequently withdrawn, but our commitment to bringing the refineries on-stream is still very deep and we are very serious about it. We propose that work commences either with the Warri or Port Harcourt Refinery as a pilot, as we set a target to improve the refinery capacity before the end of 2017.’’
A statement from NNPC adds that GE also pledged its readiness to work with the NNPC to make production in the off-shore fields profitable for the benefit of both companies and other stakeholders. The NNPC GMD also welcomed GE’s offer for support to boost the nation’s offshore production and raise crude oil reserve ratio replacement, urging the company to also tap into the opportunities on offer in medical supplies as the NNPC moves to commercialize the services of its 52 hospitals and clinics spread across the country in the years ahead.
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