15 years after its last maintenance, the Nigerian National Petroleum Company Ltd (NNPCL) has inked an agreement with Daewoo Engineering and Construction Nigeria Ltd for maintenance services for the Kaduna refinery’s fast fix repairs.Daewoo and NNPC’s Kaduna Refining and Petrochemical Company Ltd. signed the agreement on Thursday at the NNPC Towers in Abuja (KRPC).
The NNPCL estimates that the project will take 21 months to complete, cost a maximum of $740.669 million (or roughly N341.1 billion), and restore at least 60% of its original capacity by the fourth quarter of 2024.Adeyemi Adetunji, executive vice president upstream of NNPC, provided additional information. She stated: “The project shall be executed in three work packages as a maintenance services contract by Daewoo E&C as the quick-fix strategy guarantees the quickest route to restreaming WRPC and KRPC for in-country production of refined petroleum products.” Reopening the refineries in Warri and Kaduna will ensure the nation’s energy security and lessen reliance on imported petroleum products, which the nation currently depends almost entirely on due to the ongoing Russia-Ukraine conflict and its effects on world supplies.In addition, this will bring in money, lower the need for foreign exchange, supply raw materials to companies, employ Nigerians, and assure technological transfer, among other advantages, he said.
Mele Kyari, Group Chief Executive Officer of NNPC, stated that the business came up with the idea for the project since Nigeria is stepping up efforts to achievdedication to completing the assignment by the deadline.e energy sufficiency and the only way to do so is to ensure local refining.The PortHarcourt Refining and Petrochemical Company Ltd. and the Warri refinery had made headway in their rehabilitations, and Kyari predicted that they will soon resume operations.The entire plant is currently at a 59% rehabilitation level, but the former PHRC refinery will be 64% finished and ready for operation in the second quarter of this year. He explained that the Warri one is at 28% and will be delivered by year’s end.Baek Jeong-wan, the CEO of Daewoo, assured NNPCL in his remarks that the company’s dedication to completing the assignment by the deadline.
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