Page 14 - AfrOil Week 08 2022

AfrOil PROJECTS & COMPANIES AfrOil

Duport Midstream refinery and

power plant ready for launch

NIGERIA DUPORT Midstream Co. said last week that it products, create jobs and ensure optimal utili-
had received all necessary regulatory certifica- sation of the nation’s assets,” he said.
tions from the Nigerian Midstream and Down- Akindele noted that the project would be
stream Regulatory Authority (NMDRA) for its delivered in modules. “Module one or phase one
integrated refinery and power project in Edo will be going live in the next 30 days, and after we
state. get approval from the Department of Petroleum
Its project at Egbokor Energy Park in the Resource (DPR) to go live.”
Orhionmwon local government area comprises He added: “Our plan is that once we do this
the development of a 2,500 barrel per day (bpd) at the initial take-off, we will then add the other
modular refinery, a 5-MW power plant, a 40mn modules to it in a quarterly and biennial way.
cubic feet (1.13mn cubic metre) per day gas-pro- In that way, we will be able to utilize assets opti-
cessing facility, 20,000 tonnes (1.5mn barrels) of mally, avoid wastage, look after the environment
crude storage and a data centre, which are all due and create jobs.”
to come into operation in March. Meanwhile, FCMB managing director
The full first phase will see the capacities of Yemisi Edun said last month: “The project is
the refinery, gas processing facility and power doing well in terms of financing and rating. I can
plant expand to 10,000 bpd, 60 mcf (1.7 mcm) say they are almost getting to completion.” ™
per day and 50 MW, respectively, while a 10 mcf
(0.28 mcm) per day CNG facility will also be
added.
The project has received financial backing
from First City Monument Bank (FCMB) and
the Nigerian Content Development and Moni-
toring Board (NCDMB), which has invested in
several modular refining projects for a minority
equity stake.
During an inspection of the Edo facility,
Duport Midstream’s managing director and
CEO Dr. Akintoye Akindele confirmed that it
would be launched in March. “When it comes
on stream, the facility would leverage on infra-
structure to deliver energy to the country, reduce
dependence on importation of petroleum NCMDB head Simbi Wabote (C) visit the energy park in May 2021 (Image: NCDMB

TotalEnergies appears heading towards

big discovery at Venus-1x offshore

NAMIBIA EARLY reports indicate that TotalEner- One source described early results from the
gies (France) has made a major discovery at well as “very, very encouraging” and indicative
Venus-1x, its wildcat exploration well at the PEL that TotalEnergies was drilling into “a very thick
56 licence area offshore Namibia. reservoir” of crude oil and natural gas.
Thus far, the company has not commented Meanwhile, another source speculated that
on the status of the well, which is being drilled Venus might be even larger than Graff, a field
in 3,000-metre-deep water. However, anony- directly to the east where Shell (UK) struck oil
mous industry sources informed Upstream late in January 2022. UK-based consultancy Wood
last week that initial results from Venus-1x sug- Mackenzie has speculated that Graff may hold as
gested that the well had tapped into a very large much as 700mn barrels of oil, while others have
hydrocarbon structure within the Orange basin. estimated the field’s reserves at 500mn barrels.

P14 www. NEWSBASE .com Week 08 23•February•2022