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Why NNPCL Will Hand Over Port Harcourt Refinery To Private Operators

January 15, 2024
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Port Harcourt Refinery Is Over 75%  Completed, Says Managing Director

As the Port Harcourt oil refinery springs back to life, the Nigerian National Petroleum Company Limited (NNPCL) has announced its intention to hand over the government facility to private operators.

In a move aimed at ensuring reliability and sustainability for the nation’s fuel supply and energy security, the NNPCL is actively seeking reputable operations and maintenance companies.

READ ALSO: Port Harcourt Refinery Begins Operations After Test-run This Month – NNPCL

Speaking on this development, a spokesperson for the NNPCL stated, “Our focus is on engaging credible partners who can efficiently manage and maintain the Port Harcourt Refining Company. This step is crucial to meeting our national obligations in fuel supply and energy security.”

The NNPCL, in a publication on its website on Monday, outlined the comprehensive scope of the contract, covering various refinery business processes such as long-term and short-term production/operations planning, execution, monitoring, reporting, optimization, maintenance, health and safety, environmental management, minor projects, and more.

Interested companies are required to demonstrate a financial capacity, with the NNPCL stating, “A minimum average annual Turnover of at least $2 billion USD for the financial years ending: 2019, 2020, 2021, and 2022 respectively.”
This announcement follows the recent supply of crude oil to the Port Harcourt refinery for a test-run.

The Federal Government had declared the mechanical completion of the rehabilitation work on the Area-5 Plant of the Port Harcourt Refining Company on December 21, 2023. The facility is set to refine 60,000 barrels of crude oil daily after the Christmas break.

Situated in Nigeria’s oil-rich Niger Delta region, the Port Harcourt Refinery has been operational since 1965. The Alesa Eleme refinery complex, located in Rivers State, Nigeria, approximately 25 kilometers east of Port Harcourt, underwent  rehabilitation with a significant budget allocation of GBP 1.08 billion ($1.5 billion) awarded in March 2021.

As Nigeria takes a strategic step towards privatizing its refinery operations, the Port Harcourt Refinery’s revival stands as a pivotal moment in the nation’s energy landscape.

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Emmanuel Ochayi
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Emmanuel Ochayi

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