Saturday, July 20, 2024
25.2 C
Lagos

NNPC Delivers PH Refinery on Schedule, Achieves Mechanical Completion

The Nigerian National Petroleum Company (NNPC) Limited has fulfilled its pledge of achieving the mechanical completion of rehabilitation work on Area 5 Plant of the Port Harcourt Refining Company (PHRC).

Rehabilitation work has been on-going at the Refinery for over two years and the NNPC Limited had pledged to complete Phase One of the project (mechanical completion and flare start-up) of Old Port Harcourt Refinery (Area 5) by 31st December 2023.

Speaking during an inspection tour of the rehabilitation project, which also coincided with the 15th Refineries’ Rehabilitation Steering Committee Meeting, the Group Chief Executive Officer, NNPC Limited, Mr. Mele Kyari, said as of December 15th, 2023, 84.4% of Area 5 Plant, a key component of the Refinery, and 77.4% of the entire rehabilitation project have been completed.

“In our quest to ensure that this refinery is re-streamed to continue to deliver value to Nigerians, we made a promise that we will reach a mechanical completion of phase one of the rehabilitation project by the end of December and get the other plants running in 2024. Today, we have kept those commitments,” Kyari stated.

The GCEO commended the NNPC Ltd.’s staff and the EPCIC contractors for doing a great job in ensuring that the refinery achieved that significant milestone.

In his remarks, the Chairman of NNPC Limited Board, Chief Pius Akinyelure described the milestone as “historic”, stressing that the board was proud of the staff and management of the refinery.

“We are just starting. We want to be at the highest level of production so that we will keep the prices of petroleum prices in the country stable in order to give comfort to our people and generate more revenue for our country,” Akinyelure noted.

Also speaking, the Honourable Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, said the milestone is another landmark of the renewed hope agenda of President Bola Ahmed Tinubu.

He thanked Nigerians for their patience and the trust they have in NNPC Limited’s ability to deliver on this huge project.

In his address, the Minister of State for Petroleum (Gas), Rt. Hon. Ekperikpe Ekpo, said re-streaming the Refinery will herald a good omen for the nation’s Liquefied Petroleum Gas (LPG) industry, as LPG, also known as cooking gas, is a major bye-product of the Refinery.

Also speaking, the Managing Director of Tecnimont Nigeria Limited, Fabio Del Cioppo, one of the EPC Contractors of the Rehabilitation Project, said his company remains committed to fulfilling the terms of the contract.

The PHRC rehabilitation project, which costs about $1.5bn, is an EPCIC project that covers Engineering, Procurement, Construction, Installation, and Commissioning phases. For Area 5, the Engineering, Procurement, Construction, and Installation have all been completed. The mechanical completion signifies the closure of the Construction and Installation phases.

More importantly, the milestone was achieved under an excellent Health, Safety and Environment (HSE) record, which stood at over 9.5 million manhours with zero Loss Time Injury (LTI).

spot_img

Hot this week

Stanbic IBTC Bank Partners Lagos State on Water, Sanitation Infrastructure Funding Summit

Stanbic IBTC Bank, one of Nigeria’s leading financial institutions,...

Stanbic IBTC Launches Ambitious Tree-Planting Campaign in Cross Rivers State

Stanbic IBTC Holdings, in collaboration with One Tree Planted...

PalmPay Named Among Top 250 Fintech Companies in the World by CNBC, Statista

PalmPay, a leading Africa-focused fintech platform, has been included...

AIICO’s Annuity Customers Attest to Financial Stability, Payout Hits N1.3bn Monthly 

AIICO Insurance Plc, a leading insurer in Nigeria, today...

WORLD PR DAY: APRA Advocates Ethical, Responsible Use of AI

The African Public Relations Association (APRA) has called on...

Topics

Sovereign Trust Insurance Takes Career Counselling to Igbobi College

L-R Oritselaju Ejuomah, Adeleye Abolade, Folusho Opeodu, Chioma Obiedo, Abigael...

‘INSURANCE FIRST’ Policy Adopted by New NIA Chairman, Tope Smart

Mr. Tope Smart, Group Managing Director/CEO of NEM Insurance...

NGE Mourns its Deputy President, Saidu Wada

The Nigerian Guild of Editors (NGE) is devastated at...

Nokia Plans More Job Cuts over Alcatel Acquisition

Nokia has announced sweeping job losses as the consequence...

N5tr Recovery Possible if AMCON Unleash Full Powers – Legal Experts

Managing Director/Chief Executive Officer, Asset Management Corporation of Nigeria...

When Bakers Hit Gold!

A baker is only as good as his/her flour....

SENATE: AMCON Needs More Support on N5tr Debt Recovery Drive

Ahmed Kuru Managing Director/CEO AMCON The Chairman Senate Committee on Banking, Insurance...
spot_img

Related Articles

Popular Categories

spot_imgspot_img