Continental Focus, International Reach

Waltersmith to Boost Nigerian Refining Capacity

Thursday, October 11, 2018

Nigeria is set to add at least 5,000 bpd of processed crude and 300 MW to its energy capacity with the entrance of Waltersmith Refining and Petrochemical Company’s 5,000 bpd modular refinery. The refinery is located on OPL 2004’s Ibigwe Field.

According to the firm, the investment will shape Nigeria’s petroleum products supply and make the midstream cum downstream components of the industry more robust.

Chairman and CEO of Waltersmith, Abdulrazaq Isa, said that the refinery was part of “our vision to become a fully integrated energy company contributing meaningfully to Nigeria’s energy security and sustainability.”

Waltersmith is also developing a 300 MW gas-fired power plant for which the Nigerian Electricity Regulatory Commission (NERC) has granted a power generation license. The plant will be situated in the same energy industrial complex as the refinery and the flowstation in the Ibigwe field.

The power plant, Isa explained, would utilize processed gas from the Ibigwe marginal field and from third parties operating gas fields that are within proximity. The power generated will be supplied to the national grid and is expected to contribute towards bridging the power supply gap in the country and create both direct and indirect jobs during the construction and operational phases.