Oil firm Energia has announced it will build a 30,000 barrels refinery in Delta State of Nigeria, in a bid to boost local fuel production and reduce imports
Felix Amieyeofori Valentine, CEO of Energia, said that the company has already procured a parcel of land in Ndokwa area of Delta State and has also carried out environment impact assessment (EIA ) of the land where the refinery will be located.
The CEO added, “We have the capacity to shore up our production, but we stopped the capex because of the drop in oil prices. We are still drilling our wells and assets will increase to 15,000 barrels by 2016. The company will first start with 5,000 barrels modular refinery in Delta State before any further expansion.
"We know that a lot of multinational oil firms will be divesting some of their assets at the onshore area. We will definitely acquire some of these assets when the owners are willing to divest.”
Valentine noted that Energia currently produces 6,000 bpd, but will increase production to 9,000 bpd by July 2015.
