Continental Focus, International Reach

NCDMB Enters Refining Sector

Sunday, June 23, 2019

The Nigerian Content Development and Monitoring Board (NCDMB) has acquired a stake in the 12,000 bpd Azikel hydro-skimming modular refinery. The refinery is located in Obunagha, Gbarain, Bayelsa State.

The refinery, when completed in 2021, will produce about 1.3 million liters of premium petroleum as well as diesel, kerosene, mixed LPG and a small percentage of heavy fuel oil per day.

NCDMB executive secretary, Simbi Kesiye Wabote and Director of Finance and Personnel Management Isaac Yalah signed the Shareholders Agreement and the Share Subscription Agreement, while Azikel Petroleum Limited President Dr. Eruani Azibapu Godbless and Vice President Mr. Presley Asemota signed for the company.

Wabote, who spoke at the ceremony, said the Azikel modular refinery is the second and largest in the board’s portfolio, adding that the partnership would help in creating jobs, value retention, making petroleum products available and develop in-country capability.

The project, he said, “fits perfectly with the company’s vision of serving as catalyst for the development of Nigeria’s oil and gas sector.”

Wabote said that the NCDMB was also in the final stages of commencing partnership in the development of another modular refinery in Calabar, Cross River State capital before the end of 2019.