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By Adewale Sanyaolu
African Refinery Group (ARG) the LOT1 concessionaire says it has commenced rehabilitation works at the Bonny Export Terminal (BET) facilities located in the Port Harcourt refinery.
ARG is operator of several NNPC Ltd’s downstream assets, crude oil and refined petroleum products pipelines, storage depots, supply, distribution facilities and other related and ancillary infrastructure
A statement released at the weekend by the Group’s Executive Director in charge of subsidiaries, Mr. Omotayo Adebajo, disclosed that this marks the second downstream facility within the Port Harcourt refinery that the company will be revamping under the 17-year concession agreement with NNPCL which it signed on July 9, 2024.
ARG had previously implemented a revamp programme for PHRC loading terminal in time for the restoration of production and the resumption of crude oil processing at the Port Harcourt refinery on November 26, 2024.
Bonny Export Terminal (BET) which comprises the onshore facilities adjourning PHRC, the offshore export platform and the interconnecting pipeline system was commissioned 24-years ago but was never used since commissioning.
According to the company, the announcement of commencement of the revamp, is in fulfillment of its contractual obligations to NNPCL under the Concession agreement to turn-around the BET, expand Port Harcourt refinery’s Crude Oil Import and Export operational capacity, create additional revenue streams for NNPCL and prevent economic loss to the nation.
ARG said it is happy to have been given the opportunity to continue to play its own part as one of the four companies that were granted concessions under a Public Private Partnership with NNPCL to operate several of its downstream supply and distribution facilities which includes the BET.
The statement added that this new milestone is a further testament to the unwavering commitment and courage of the Tinubu’s administration, the NNPCL’s leadership and could have only been achieved with the support from various NNPCL subsidiaries including Port Harcourt Refinery, Nigerian Pipelines And Storage Company Limited and NNPC Exploration and Production Limited (NEPL).
