Energy  

Bayelsa partners Rehoboth on 60,000bpd refinery

Managing Partner, CBO Capital (project financial adviser), Bekuochi Nwawudu; Chief Executive Officer, Rehoboth Refinery, Joe Attueyi; Bayelsa State Commissioner for Trade & Investment, Kemela Okara; Partner, Edward Ekiyor & Co, Tonbofa Ashimi; and Senior Special Adviser to the Governor of Bayelsa State on Trade and Investment, Valery Ngoufan, during the MOU signing ceremony between Bayelsa State Government and Rehoboth Refinery Limited in Lagos recently.

Bayelsa State Government and Rehoboth Refinery have signed a Memorandum of Understanding (MoU) for the establishment of 60,000 barrels per day refinery in the State.

The refinery, which is scheduled for completion within 18 months, is expected to support the Federal Government’s move to improve capacity of petroleum products in the country.

Speaking at the MoU signing ceremony in Lagos, Chief Executive Officer, Rehoboth Refinery, Joe Attueyi, who commended the Federal Government for giving licenses to private firms to establish refineries, disclosed that the the company has secured feedstock guarantee for the refinery.

He added that Rehoboth had acquired land in Iminringi community in Bayelsa State and obtained its Certificate of Occupancy. Attueyi said that the company has also obtained a license to establish from the Department of Petroleum Resources (DPR).

He stated: “We are very excited to be partnering with the Bayelsa State government for the establishment of Rehoboth refinery. We believe partnership creates value. We are also partnering with our host communities by acquiring land directly from them. This refinery is going to provide jobs and add value to the Nigeria economy and to our host communities.”

To facilitate the establishment of private refineries in the country, Attueyi emphasised the need for the Federal Government to provide incentives and guarantees for investors.

Speaking also, Bayelsa State Commissioner for Trade & Investment, Kemela Okara, said that the Bayelsa State Government is committed to support the Rehoboth Refinery project in every way possible to create jobs and business opportunities for all Bayelsans.

He confirmed that Rehoboth Refinery has identified its sources of feedstock. He added that the company has achieved some milestones and “we are committed to ensuring that the project is completed.”

Okara noted that Bayelsa State had in abundance gas feedstock to power the refinery and other refineries that may be coming up in the state.  “It is interesting to note that we already have more than enough gas in abundance to deliver to the refinery.”



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