Azikel Petroleum Limited has signed a contract with Ventech Engineering LLC of Texas, USA, for the construction of the 12,000-per-streaming-day hydro-skimming modular refinery, which is to be called the Azikel Refinery.
Ventech Engineering is a leader in modular refinery construction. Dr. Eruani Azibapu Godbless, president of Azikel Group, signed on behalf of Azikel Petroleum Limited, with the Director of Investment and Strategy, Mr. Richard Howarth, and the Executive Director, Operations, Mr. Presley Asemota, present at the signing.
The refinery is expected to open and commence operations in 2018 and will produce high-quality variants of LPG, petrol, kerosene, aviation fuel, diesel and heavy fuel oil.
“At the operational site of Azikel Refinery, construction of crude oil feed stock tanks and refined products tanks have reached a 55 per cent completion. The execution now of the ISBL Unit, which is the main Modular Hydro-Skimming Refinery from Ventech, will keep the project in tight schedule for operations in the 2018,” Dr Godbless said.
The funding of the refinery is being secured from three sources, viz: Exim Bank, Export Credit Agencies and EPC Project Finance funding.
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