The Nigerian National Petroleum Company Limited (NNPCL) has revealed its intention to hand over the Port Harcourt Refining Company to private operators as the refinery resumes operations.
The move is part of the NNPCL’s strategy to enhance reliability and sustainability, meeting the nation’s fuel supply and energy security needs.
In a publication on its website on Monday, the NNPCL stated that it is in search of reputable and credible operations and maintenance companies to manage and maintain the Port Harcourt Refining Company. The contract’s scope will encompass various refinery business processes, including long-term and short-term production/operations planning, execution, monitoring, reporting, optimization of operations, maintenance execution, health and safety, environmental management, minor projects, and others.
Interested companies are required to demonstrate a minimum average annual turnover of at least $2 billion USD for the financial years ending 2019, 2020, 2021, and 2022.
The NNPCL had earlier initiated the supply of crude oil to the Port Harcourt refinery for test runs. On December 21, 2023, the Federal Government announced the mechanical completion of rehabilitation work on the Area-5 Plant of the Port Harcourt Refining Company, with the facility set to refine 60,000 barrels of crude oil daily after the Christmas break.
The Port Harcourt Refinery, in operation since 1965, is situated in the Niger Delta region. The refurbishment and modernization project, approved by the Nigerian government in March 2021 with a budget of GBP 1.08 billion ($1.5 billion), aims to enhance the efficiency and productivity of the refinery complex.
