Page 15 - DMEA Week 22

DMEA REFINING DMEA

The project site.
Source: Gemcorp.

Gemcorp prepares ground for

Angolan oil refinery

ANGOLA GEMCORP has finished ground preparations on track with the delivery of this important pro-
for the 60,000 barrel per day (bpd) Cabinda oil ject,” Gemcorp Capital partner Reginald Craw-
Gemcorp plans to take refinery, the London-based investment firm has ford said in a statement. “Once in operation, the
an FID by the end of announced. Cabinda refinery will create significant value for
the month. Gemcorp was picked earlier this year for the the Angolan economy and in particular reduce
project – one of three refineries Angola wants to its dependence on foreign energy imports.”
build to ease its fuel and power shortages. The The Cabinda plant will process 30,000 bpd
developer plans to take a final investment deci- of oil by the end of 2021 under its first phase
sion (FID) by the end of this month and begin of development. Under its second stage, its
construction in August, it said. throughput will double to 60,000 bpd and it will
De-mining, land clearance and site prepara- be equipped with a reformer which can convert
tion has already been completed at the 38-hec- straight-run naphtha into gasoline. Under the
tare plot on the Angolan coast where the refinery third phase, which will run until the end of 2023,
is to be erected, Gemcorp said. The company a hydrocracker will be added, to process heavy
has also undertaken a front-end engineering fuel to produce gas oil.
and design (FEED) study on the refinery’s dis- Sonangol awarded a contract to Hong Kong-
tillation and merox units, its tanks, supporting based consortium United Shine last year to build
infrastructure and power. the Cabinda refinery, but it terminated the deal
Gemcorp has also finished initial designs for in December, citing the group’s failure to prove
a conventional buoy mooring (CBM) system, for it had the financial capability to see the project
which it secured a licence to build on May 15. through. Gemcorp is also looking to develop a
This system will allow large vessels up to Suez- modular refinery in Liberia with local partner
max class to service the plant. Conex Oil and Gas Holdings.
Gemcorp will develop the project through a Angola also wants to build two other refiner-
joint venture with Sonaref, a subsidiary of Ango- ies on its coast at Soyo and Lobito. The country
la’s state-owned oil and gas company Sonangol. currently has only one refinery – a 65,000 bpd
“We’re working closely with domestic and plant in its capital Luanda that can cover around
international contractors, and are pleased to be 20% of national fuel demand. ™

Week 22 04•June•2020 www. NEWSBASE .com P15