NNPC, Partners Sign $1.5bn PH Refinery Rehab Deal

The plan of reviving the Port Harcourt Refinery and Petrochemical Complex (PRPC) was consummated, yesterday, in Abuja, with an official agreement signing ceremony between the Nigerian National Petroleum Corporation (NNPC) and contractor, Maire Technimont SPA.
Speaking at the event, the Group Managing Director of the NNPC, Mr Mele Kyari, noted that over 7,000 staff of the NNPC agreed in unison to toe the path of totally retrofitting all government refineries, regardless of the inherent challenges, with a view to creating jobs and ending petroleum products import.
He revealed that a provision of $162.239million has been made, even as he said that an escrow account will be opened in respect of the project in weeks ahead.
On the public outcry over the cost and modalities of the rehabilitation, Kyari reassured that several stakeholders, offshore and onshore, are involved in project.
“We dragged in several stakeholders like the Ministry of Finance, ICRC, NEITI, labour unions, foreign technical partners and others. If we had anything to hide, we won’t do this. This is a great history for us. We are aware of the misgivings around cost, political compromises, etc. Those critics, if they were in charge, will hike cost and earn money they did not work for from the rehabilitation project,” Kyari said.
“If I see the MD of Technimont, I won’t recognise him because we did not deal based on personal connection.
“We acknowledge we made mistakes in the past with regards to Turn Around Maintenance (TAM). But this is not a TAM. Major procurement and construction are involved here. We’ve neglected these refineries and TAM procedures abused. This is retrofitting. Some parts will be replaced and others upgraded and these spending will be published.