The Nigerian National Petroleum Company Limited is waiting for technical assessments from two Chinese firms on Port Harcourt and Warri refineries before proceeding with plans for additional investment agreements.
The NNPC’s Chief Corporate Communications Officer, Andy Odeh, disclosed this in an exclusive interview with our correspondent, following the company’s latest update on the proposed partnership.
The Chinese firms—Sanjiang Chemical Company Limited and Xinganchen (Fuzhou) Industrial Park Operation and Management Co. Limited—have conducted about three months of detailed on-site assessments alongside NNPC’s technical teams.
In its response to questions from The PUNCH, the company said the technical report was being finalized after the assessment, which is expected to establish the work and technology required to make the refineries commercially competitive.
“The prospective partners have carried out approximately three months of detailed on-site assessment with their senior engineers, working alongside NNPC teams. The technical report is being finalized. The assessment is intended to establish what work and technology are needed for competitive operations,“ Odeh said.
The NNPC said it was pursuing a technical equity partnership model to restore the facilities to sustainable operations, stressing that rehabilitation work alone would not guarantee success.
“As the Group Chief Executive Officer, Engr Bayo Ojulari, has explained, successful rehabilitation requires financing, competent engineering and construction, and strong operating capability.
“Completing repairs alone is not enough; the facilities must also be able to operate reliably and profitably,” he noted.
The company said the next steps would involve completing the assessment report, receiving a detailed proposal from the prospective partners, and agreeing on the technical and commercial terms.
“The next milestones are completion of the assessment report, a detailed partner proposal, and agreement on the technical and commercial terms. Definitive agreements, the necessary approvals, and an investment decision would then provide the basis for a credible program for completing work and restarting operations,” it stated.
However, the NNPC said it could not announce a restart date until the requirements had been settled.
