Firms partner on oil production, refineries, electricity
Evolve Trading & Investment Limited, with offices in the United Kingdom and Nigeria, said it has signed a Memorandum of Understanding (MoU) with Awaritse Nigeria Limited, a local oil service company with global representation, to build mini refineries with the capacity to process crude oil, produce water and also generate electricity.
The partnership was signed in London between the two companies where Senior Vice President, George Karstein Irvine, and Strategic Alliance Partner, Godwin Omar Atsimene Jnr. represented Evolve.
Irvine said: “Our innovative refining technology is far ahead of the standard refining process, which does not produce the additional outputs of electricity and drinking water.
“The unit has been named the ‘Genesis Life Cube (GLC)’ and is based on the context of creating life by producing the basic elements of water and light. Evolve feels that these are the first building blocks needed to expand the socio-economic benefits to communities where the Genesis Life Cubes are sited.”
The companies in a statement that the GLC has the ability to produce a basic yield of refined products designed for the local market as well as electricity and drinking water for local consumption. “Apart from boosting the local capacity to refine our products, it will help to mitigate the challenges associated with the transfer of crude feedstock via third party pipelines or by road for further transportation by sea to a foreign destination only to be re-imported as refined products.
“This innovative approach will reduce risks almost to zero given that processing, power generation and reverse osmosis associated with crude oil refinery will now be done in one location with the range of outputs becoming immediately available. Apart from creating employment opportunities, Evolve will train host communities as a deliberate policy of giving back to them to ensure a win-win for all,” it explained.
The companies envisaged that each unit will provide up to 20 megawatts (MW) of power and up to 800,000litres of fresh drinking water per day based on a maximum processing capacity of 30.000 barrels per day (bpd) of crude oil.
The GLC units are going to be provided on a fully funded basis and as such the company is discussing with the federal government agencies.
Atsimene Jnr. disclosed that Evolve GLCs are going to be a game changer for the Niger Delta region, which has suffered from years of neglect and environmental degradation. The GLC could easily replace the illegal modular refineries in the region and produce refined products, water, and electricity as well as create jobs in the communities in the region.
Riding on the momentum generated by the agreement, Evolve is optimistic that it will deliver the Genesis Life Cubes and make them operational within the next three years in Nigeria.
No comments yet