Department of Petroleum Resources DPR says the 5,000 barrels per day Waltersmith Modular Refinery project in Imo State is ready for operations.
The Director, Alh Sarki Auwalu, disclosed this during a pre-commissioning visit to the project site located in Ibigwe, Imo State.
Alh Sarki Auwalu said the purpose of the visit was to make sure that the Waltersmith Refinery was ready to start operations.
He explained that the focus of the DPR was on how to create opportunities that would ensure Nigeria’s vast oil and gas resources were managed for the betterment of Nigerians.
“Waltersmith is one of our success stories. We consider the project as ours. We have been tracking their growth and we are happy to see that our child is growing. It is our plan that they expand and they have the potential.” he added
According to the Director, the 5,000bpd modular refinery, scheduled for official inauguration this month, has a crude oil storage capacity of 60,000 barrels and is projected to deliver over 271 million litres per year of refined petroleum products.
Speaking, the Chairman, Waltersmith Refining and Petrochemical Company, mr. Abdulrasaq Isah, said the 5,000bpd plant was the first phase of a series of refinery development which would culminate in the delivery of up to 50,000bpd refining capacity.
Waltersmith Refining and Petrochemical Company obtained License to Establish from DPR in June 2015 and obtained authority to construct in March 2017.
The company partnered the Nigerian Content Development and Monitoring Board, who are 30 per cent equity holders, while the Africa Finance Corporation committed significant financing to the project, as Waltersmith signed an EPC contract in June 2018 with a consortium of Vfuels and Lambert Electromec.