Page 10 - DMEA Week 44 2022

DMEA REFINING & FUELS DMEA

“This will enable our LNG to play an important Additionally, it calls for the building of the
role in supporting a pragmatic, equitable and two new LNG production trains, each with a
realistic energy transition,” he continued. capacity of 8mn tpy, that will be served by the
NFS is the second phase of an ongoing move pipelines.
to boost output at North Field, the Qatari sec- ConocoPhillips also has a 3.12% stake in the
tion of a massive offshore natural gas field in first phase of the expansion programme, known
the Persian Gulf. (The Iranian section, located as North Field East (NFE). The other foreign
on the other side of the maritime boundary partners are Shell, Eni (Italy), ExxonMobil (US)
between the two countries, is known as South and TotalEnergies. Together, the NFS and NFE
Pars.) It will involve the installation of five new schemes aim to boost gas production at North
production platforms, the drilling of 50 new Field so as to bring Qatar’s LNG production
wells and the laying of new pipelines to link the capacity up to 126mn tpy, a rise of 48mn tpy, or
field to onshore facilities. 61.5%, on current levels of 78mn tpy. ™

NNPCL, Daewoo E&C sign LoI on

Kaduna refinery rehab project

AFRICA NIGERIAN National Petroleum Co. Ltd Daewoo E&C has already secured a final
(NNPCL) has reached agreement with Daewoo contract worth about $492mn for the Warri
E&C, a unit of South Korea’s Daewoo Group, on rehabilitation project. This puts the value of the
the rehabilitation of the Kaduna oil refinery. Kaduna deal at nearly $1bn.
According to reports from Nigerian press As of press time, it was not clear when the
agencies, representatives of NNPCL and Dae- South Korean company might begin work
woo signed a letter of intent (LoI) on the reha- on the 110,000-barrel per day (bpd) Kaduna
bilitation of that refinery in Seoul on October refinery, which sustained losses of NGN22.9bn
27. Nigerian President Muhammadu Buhari ($51.99mn) in 2021. Nigerian officials did say,
witnessed the signing, which took place on the though, that the parties expected to sign a final
sidelines of the 2022 World Bio Summit. agreement on the rehabilitation project in the
NNPCL is awarding the refinery repair and first quarter of 2023.
upgrade contracts to Daewoo E&C in line with They also noted that the Warri refinery was
decisions made last year by Nigeria’s Federal due to resume fuel production in the first half
Executive Council (FEC), which functions as of next year. (The plant will then ramp up to
Buhari’s cabinet. The FEC said in August 2021 full capacity by the end of 2023, according to
that it would set aside $1.48bn in budget funds Desmond Iyanmah, the managing director of
to cover the cost of rehabilitating the Warri and NNPCL subsidiary Warri Refining and Petro-
Kaduna plants. chemical Co.)

President Buhari (C) was present for the signing of the deal (Photo: Twitter/@NGRPresident)

P10 www. NEWSBASE .com Week 44 03•November•2022