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Tag: modular refineries

  • 3 modular refineries to begin operations in 2019 — Kachikwu

    The Minister of State for Petroleum Resources, Dr Ibe Kachikwu, has said there are strong indications that three out of the 40 planned modular refineries would come on stream by end of 2019.

    Kachikwu disclosed this at the three-day Biennial International Conference for Health, Safety and Environment (HSE) organised by Department of Petroleum Resources (DPR) in Lagos on Monday.

    “Out of the 40 licenses issued, only 10 have shown progress by submitting their programmes and putting something on the ground.

    “ By end of 2019, we are assured that three private modular refineries would come on stream,’’ he said.

    The minister said that the conference was a forum for pooling ideas and research findings for the incubation of enduring and game-changing oil and gas policy initiatives.

    “Perhaps this edition of the conference could not have come at a better time, first to allay the popular fear that the days of oil and gas as an international commodity and energy source are over.

    “And secondly, to stimulate new ideas on sustainable ways of developing this resource in a manner that will both prolong its acceptability as an energy source and also help the nation reap optimal benefits,’’ he said.

    Kachikwu said that environmental sustainability was a key component of the Seven Big Wins initiative of the President Muhammadu Buhari administration for the oil and gas industry.

    He urged the DPR to come up with new initiatives to end the menace of gas flaring to truly incentivize the flare-out policy by creating the new National Gas Policy.

    He said that the policy was aimed at ensuring that all currently flared gas, including those previously considered as non-technically feasible and non-commercially viable, is gathered and utilised for various economic utilities that are financially rewarding to the producers.

    He added that the collectors and interested investors converted it for power generation, petrochemicals and other beneficial uses.

    “ Aggressive efforts are being made within the ambits of HSE sustainability to convert more gas to LNG through new and existing investors to retain Nigeria in its currently threatened fourth position as an LNG exporter.

    “Our push for the increased investments in modular and conventional refineries is not only targeted at helping the nation benefit from its resources by providing products to the entire West African sub-region.

    “But also essentially to stop the scourge of local unconventional artisanal refineries that have led to massive oil spills that have been hard to manage for nearly a whole decade,” he said.

    The Director of DPR, Mr Modeccai Ladan, urged stakeholders to galvanize efforts at maximizing Nigeria’s production and minimize wastage.

    Ladan said that the oil and gas industry seemed to be under a new threat of renewed dislike and global war against fossil fuels and the quest for renewable and cleaner energy, purely for environment considerations, including global warming.

    “Over the years, the threat against fossil fuels had always been on paper, but today, it is more real than ever, based on some clear evidence I like to draw our attention to.

    “Three among the biggest technology companies have made attempts at electric cars to replace gasoline and diesel engines.

    “While the attempt of Apple may not have made it to production yet and that of Google was suspended after clearly successful street trials that of Tesla actually took the world by surprise.

    “Not only did the first two releases of Tesla outsell sales forecasts, they were actually oversubscribed, and the demand keeps rising while new models are being added,’’ he said.

    Read also: Fed govt secures US$500million loan from China for modular refineries

    Ladan said; “As we speak, some of the big International Oil Companies (IOCs) here seated are funding gigantic researches into alternative fuels, which include the use of cheap, common algae.

    “ As sweet as Nigeria’s crudes are renowned to be globally, we have recently lost our most valued customers and our gas buyers are themselves now competing with us in the same market space as suppliers.

    “Ladies and gentlemen, all of these points to one fact, namely, if Nigeria is to continue to benefit from its vast petroleum resources, now than ever is the time to build sustainability into its prospecting, drilling, production, transportation and usage.

    “As well as management of its wastes. And this task rests on the shoulders of not only the DPR but all stakeholders.

    “Little wonder then that we have chosen a befitting theme for this current edition of the conference, which is: “Driving Sustainability in the Oil and Gas Industry through Improved Stakeholders’ Environmental Stewardship,” he added. (NAN)

  • Fed govt secures US$500million loan from China for modular refineries

    The federal government has secured a US$500m facility from the Export Import Bank of China (CEXIM) through the Bank of Industry (BOI). It is for the establishment of modular refineries and Flare Gas Recovery Programme in the country.

    The establishment of modular refineries is part of the federal government’s plan to end importation of petroleum products and to discourage illegal oil bunkering activities in the Niger Delta region.

    A total of 38 operating licenses have already been granted by the federal government to establish modular refineries in the Niger Delta.

    The BoI said yesterday that “as part of the MoU between BoI and CEXIM, the facility will be utilized to finance the purchase of equipment and machinery from China by investors and project owners of modular refineries in Nigeria.

    “The aim is to ensure availability of refined petroleum products within the country, monetise gas flare, reduce cost of products in the mid-term and provide employment for Nigerians.

    “To date, 10 modular refineries are at advanced stages of development in the Niger Delta; this facility will ensure that more modular refineries are constructed.”

    The facility could be accessed via letters of credit issued for the delivery of specified modular refineries and gas processing equipment to qualified Nigerian companies establishing petrochemical facilities under the Modular Refineries and Gas Flare Recovery Programme.

     

  • Why modular refineries haven’t taken off, by Iheanacho

    •Over 100  refineries for fuel sufficiency’

    Lack of technical technical know-how to run the operation of modular refineries is one of the reasons licensed refineries operators have not taken off, the Chairman, Integrated Oil and Gas Limited, Capt Emmanuel Iheanacho, has said.

    He also said progress has not been recorded in this area  because   existing and prospective investors do not have adequate information.

    He said many investors have failed to do their feasibility studies, market survey while others do not even know the cost of operating the refineries.

    In an interview, Ihenacho said people often blamed the government for issuing licences to investors without looking into their problems.

    He said: “It is quite unfortunate that investors are underestimating the operation of modular refineries in Nigeria. Many people do not know the kind of work and length of time needed to start operating modular refineries; they do not know what it means to conceive the idea of a refinery; they do not know the engineering aspects of the scheme, the financing and other issues. The non-availability of this information is hindering the take-off of many of such refineries.”

    He said the Department of Petroleum Resources (DPR) has issued more than 40 licences, stressing that poor understanding and financing are delaying their take-off.

    He said having licence is an aspect of the business, adding that there are other aspects of the buisness which  investors are not ready to give enough attention to.

    Many investors, Ihenacho said, do not have enough funds to invest in the business, as banks are not ready to provide facility to them due to fears.

    He said there are micro and macroeconomic problems, such as foreign exchange fluctuations, huge cost of importation of equipment and taxes, that are delaying the take off of the refineries.

    He said the cost of setting up a modular refinery runs into millions of dollars depending on the capacity of the refinery, urging the Federal Government to assist operators to get funds for the business.

    “It is when the economic climate is conducive for the operators to do business especially the volatile and sensitive nature of operating refineries that operators would be able to fare better.  When this happens, the efforts by the government to improve fuel supply would not be in vain,” he said.

    Iheanacho said modular refineries are meant to complement traditional refineries and that these have to a reasonable extent, improved fuel supply in countries in Europe and America.

    The Federal Government mooted the idea of modular refineries to complement the four state-owned refineries that have failed to produce optimally.

    Iheanacho said Nigeria needs at least 100 modular refineries by 2020, if the country wants to improve fuel suply and stop scarcity of the product.

    He said the government  was moving in this direction by approving some refineries.

    He urged the government to  approve more refineries  to boost fuel supply.

    “Modular refineries, despite their lower capacity could complement the production of bigger and traditional refineries, if the government gives them the desired attention,” he said.

    Ihenacho said modular refineries refine between 10,000 barrels and 100,000 barrels of oil per day (bpd), adding that for the country to be proud of refining 400,000 bpd, it must have 40 such refineries in place.

    He said Nigeria could have between 40 and 50 modular refineries in the next few years, if urgent attention was paid to the issue.

    Ihenacho said modular refineries refine between 10,000 barrels and 100,000 bpd, adding that for the country to be proud of refining 400,000 bpd, it must have 40 such refineries in

    “If the country will be self-sufficient in fuel supply, more modular refineries must come on stream to complement the production from the state-owned refineries and the Dangote Refinery, that is expected to come on stream by next year.

    ‘’If Dangote Refinery comes with a nameplate capacity in excess of 600,000 barrels and the government-owned refineries are operating at full capacity, in addition to the output from modular refineries, Nigeria can achieve fuel sufficiency,” he said.

     

  • ‘Nigeria needs 100 modular refineries for fuel sufficiency’

    No fewer than 100 modular re-fineries should be operational by 2020, if the Federal Government wants to improve fuel supply and stop scarcity of the product, Integrated Oil and Gas Limited Chairman Capt Emmanuel Ihenacho has said.

    He said the government was moving in this direction by approving some modular refineries. He urged government to approve more for investors to boost fuel supply.

    Modular refineries despite their lower capacity, he said, can complement the production of bigger and traditional refineries, if the the government gives them the desired attention.

    Ihenacho said modular refineries refine between 10,000 barrels and 100,000 barrels of crude, adding that for the country to be proud of refining 400,000 barrels, it must have 40 such refineries in place.

    He told The Nation, that Nigeria could have between 40 to 50 modular refineries in the next few years if urgent attention was given to the matter.

    He said daily, Nigerians consumed about 48 million litres of premium motor spirit (PMS) as against the Nigerian National Petroleum Corporation (NNPC) estimate that the country consumed 39 million litres per day,

    “If the country will be self-sufficient in fuel supply, more modular refineries must come on stream to compliment the production from the state-owned refineries and the Dangote Refinery that is expected to come on stream by 2019.  If Dangote Refinery comes with a nameplate capacity in excess of 600,000 barrels and the government-owned refineries are operating at full capacity, in addition with the output from the modular refineries, Nigeria can become self-sufficient.

    According to him, the country’s yearly fuel import stands at 17.8 billion litres while consumption stands at 19.3 billion. “From all indications, we are yet to meet fuel needs despite billions of naira being spent on importation of fuel into the country. The huge foreign exchange that is being taken outside the country yearly under the guise of importation of fuel, will do a lot of things for the country if it is domiciled in Nigeria,” he added.

    He urged the government to provide an enabling environment by assisting modular refinery operators with funds as well as reduction in taxes. He added that by so doing, licensed operators yet to start refining crude would be gingered to do something.

     

  • DPR issues 13 licences for modular refineries

    DPR issues 13 licences for modular refineries

    The Nigerian National Petroleum Corporation (NNPC) yesterday said out of the  35 interests that were indicated in modular refineries, the Department of Petroleum Resources (DPR) had  issued licences to 13.

    The Group Managing Director, Dr. Maikanti Baru, who made this disclosure, said he had already been invited to the ground breaking of the first one in Bayelsa State in February.

    He said: “So far, about 35 interests for modular refineries have been declared and the Department of Petroleum Resources (DPR) has issued licences to about 13 and I have been invited to the ground breaking ceremony of the first one in Bayelsa State next month.”

    Baru also said NNPC was targeting to forward the agreements for the selection of financials for the Port Harcourt Refining Company Limited (PHRC), Warri Refining and Petrochemical Company Limited (WRPC) and the Kaduna Refining and Petrochemical Company Limited to the Corporation’s board during its meeting this month.

    The NNPC’s boss, according to a statement issued by the Corporation’s Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, yesterday, said Baru disclosed this while briefing members of staff of the Corporation on the fuel supply situation in the country during a town hall meeting in Abuja.

    He added that once NNPC secures the funding, it would commence the rehabilitation of the refineries.

    The target, he said, was to achieve 90 per cent capacity utilisation before the end of next year.

    He said: “We are pushing towards the final selection of our financiers and we expect that when that is done, we’ll get the agreements and present them to our board, which is meeting  this month, to secure their endorsement. And once we have the funding, we would start the rehabilitation of the refineries towards a 90 per cent capacity utilization per stream day before the end of 2019.”

    NNPC said the development was to uphold  the promise to boosting petroleum products supply and distribution in the country

    He described the procedure for electing the financiers as painstaking, noting, however, that it was necessary to enable a desired closure on the subject.

    Baru said the Corporation was also encouraging new refining capacities to come on board, adding that there were two consortia that have indicated interest to co-locate refineries in Warri and Port Harcourt.

    He said NNPC would provide whatever utility services the companies might require, such as power, processed steam, water and land, stressing that the corporation has agreed in broad terms on areas of collaboration to fast track the development.

    “Am happy to inform you that progress has been made, up to the level of an acceptable detailed engineering design and we are in the process of mobilizing some of the refineries already identified for installation in Nigeria,” the GMD informed.

    He said the Kaduna State Government was also championing a proposal to co-locate another refinery close to the KRPC with the intent of sourcing Nigerien crude for its operations.

    Baru stated that other Greenfield refineries were to be brought on board soon in Kano and Kaduna, stressing while on board, they would source their crude from Niger Republic.

    He said the designs for the proposed refineries in Kano and Kaduna were ready, saying their construction would commence this year.

    The NNPC GMD revealed that the Ministry of Petroleum Resources and the corporation were collaborating to encourage the establishment of modular refineries in the Niger Delta area to encourage job creation.

    He noted that the Federal Government and the NNPC would continue to encourage private sector initiatives that would bring in competition in the petroleum products supply and distribution network so as to guarantee energy sufficiency for the country.

  • DPR issues 13 licenses for modular refineries

    DPR issues 13 licenses for modular refineries

    …NNPC seeks board approval for refineries’ financiers this month

    …eyes 90 per cent capacity utilization 

    The Nigerian National Petroleum Corporation ( NNPC ) yesterday said that out of the  35 interests that were indicated in modular refineries, the Department of Petroleum Resources ( DPR ) had  issued licenses to 13.

    The Group Managing Director, Dr. Maikanti Baru, who made this disclosure said that he had already been invited to the ground breaking ceremony of the first one in Bayelsa in February. 

    He said “So far, about 35 interests for modular refineries have been declared and the Department of Petroleum Resources (DPR) has issued licenses to about 13 and I have been invited to the ground breaking ceremony of the first one in Bayelsa next month.”

    Baru also said that NNPC was targeting to forward the agreements for the selection of financials for the Port Harcourt Refining Company Limited (PHRC), Warri Refining and Petrochemical Company Limited (WRPC) and the Kaduna Refining and Petrochemical Company Limited to the corporation’s board during its meeting this month. 

    The corporation’s boss, according to the statement that the Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu issued yesterday, said that Baru 

    disclosed this while briefing members of staff of the corporation on the fuel supply situation in the country during a town hall meeting in Abuja.

    He added that once NNPC secured the funding, it would commence the rehabilitation of the refineries.

    The target, said the statement, was to achieve 90 per cent capacity utilization before the end of next year.

    He said “We are pushing towards the final selection of our financiers and we expect that when that is done, we’ll get the agreements and present them to our board, meeting this month to secure their endorsement and once we have the funding, we would start the rehabilitation of the refineries towards a 90 per cent capacity utilization per stream day before the end of 2019.”

    NNPC said that the development was to uphold the promise to boosting petroleum products supply and distribution in the Country

    He described the procedure for electing the financiers as painstaking, noting, however, that it was necessary to enable a desired closure on the subject.

    Baru said the corporation was also encouraging new refining capacities to come on board, adding that there were two consortia that have indicated interest to co-locate refineries in Warri and Port Harcourt.

    He said NNPC would provide whatever utility services the companies might require, such as power, processed steam, water and land, stressing that the corporation has agreed in broad terms on areas of collaboration to fast track the development.

    “Am happy to inform you that progress has been made, up to the level of an acceptable detailed engineering design and we are in the process of mobilizing some of the refineries already identified for installation in Nigeria,” the GMD informed.

    He said the Kaduna State Government was also championing a proposal to co-locate another refinery close to the KRPC with the intent of sourcing Nigerien crude for its operations.

    Baru stated that other Greenfield refineries were to be brought on board soon in Kano and Kaduna, stressing while on board, they would source their crude from Niger Republic.

    He said the designs for the proposed refineries in Kano and Kaduna were ready, saying their construction would commence this year.

    The NNPC GMD revealed that the Ministry of Petroleum Resources and the corporation were collaborating to encourage the establishment of modular refineries in the Niger Delta area to encourage job creation.

    He noted that the Federal Government and the NNPC would continue to encourage private sector initiatives that would bring in competition in the petroleum products supply and distribution network so as to guarantee energy sufficiency for the country.

    Dr. Baru hinted that the corporation was also exploring other sources of energy that could substitute Premium Motor Spirit (PMS), otherwise known as petrol, in cars and motorcycles, saying the use of Compressed Natural Gas (CNG) to power vehicles in Benin City is the right step in the right direction.

    He said over 3,000 vehicles were now CNG-powered in the ancient city, making them, he stated, more secured, more efficient, given that gas is a cleaner source of energy.

    Encouraging the development of infrastructure such as roads, railways and waterways are other means by which NNPC plans to lessen the pressure on PMS consumption, the GMD said.

    He applauded the Federal Government for approving the Abuja-Kaduna-Kano pipeline project, stating that the gesture would go a long way in supporting the NNPC’s transmutation into an integrated energy company.

    He said the project when completed would create the needed back bone for the Abuja’s 1,350 megawatts power plant, Kaduna’s 900 megawatts power plant and Kano’s 1,350 megawatts power plant.

    The NNPC GMD said the operations of the corporation were being challenged by incessant vandalism of crude and products pipelines and kidnapping of staff, adding that the corporation would continue to engage members of the host communities to emplace growth and development of the local communities.

  • IPMAN urges Fed Govt to invest more in modular refineries to end fuel scarcity

    IPMAN urges Fed Govt to invest more in modular refineries to end fuel scarcity

    The Independent Petroleum Marketers Association of Nigeria (IPMAN) yesterday urged the Federal Government to invest more in modular refineries as a way to end fuel scarcity.

    Its Chairman, South-west zone, Alhaji Debo Ahmed, gave the advice in an interview with the News Agency of Nigeria (NAN) in Lagos.

    Vice President Yemi Osinbajo only two days ago in Lagos, confirmed that 10 modular refineries were at advanced stages of development in the Niger Delta.

    The 10 modular refineries are located in five out of the nine states in the Niger Delta.

    The states include Akwa Ibom, Cross River, Delta, Edo and Imo states.

    Osinbajo said two of the refineries, Amakpe Refinery (Akwa Ibom), and OPAC Refinery (Delta State), have had their mini-refinery modules already fabricated, assembled and containerized overseas and ready for shipment to Nigeria for installation.

    The total proposed refining capacities of the 10 licensed refineries stands at 300,000 barrels.

    Ahmed said the modular refineries could help address any shortfall in fuel supply pending when additional refineries would be built.

    “It will also boost the country’s revenue generation and address frequent fuel capacity experienced during the yuletide seasons.

    “Our expectation in 2018 is for the government to invest more on modular refineries to be able to have more petrol locally to address scarcity,’’ he said.

    Ahmed said government had performed credibility well in the downstream sector in 2017, adding that it should crown it by building more modular refineries.

    According to him, a modular refinery is cheaper to build and it can move from one place to another.

    “A modular refinery is capable of refining between 10,000 and 35,000 barrels of crude oil per day,’’he said.

    He also urged the government to provide incentives that would attract investors to the oil and gas sector.

  • 10 MODULAR REFINERIES CLOSE TO TAKE-OFF – PRESIDENCY

    10 MODULAR REFINERIES CLOSE TO TAKE-OFF – PRESIDENCY

    • Says Ogoni clean-up recording progress

    The promotion and establishment of privately financed modular refineries in the country remain a priority of the federal government, Vice President Yemi Osinbajo  said yesterday.

    The objective is to increase local refining capacity, create jobs and ensure peace and stability in the Niger Delta region.

    The policy featured prominently at the last interactive session between federal government officials led by Osinbajo and a delegation of the Pan Niger Delta Forum (PANDEF).

    Senior Special Assistant on Media and Publicity to the vice president, Mr., Laolu Akande, said the initiative would also reposition the petroleum industry and ensure self-sufficiency of petroleum products, while serving as a disincentive for illegal refineries and oil pollution.

    He quoted the VP as saying “the federal government, in line with its Niger Delta New Vision, is targeting measurable objectives in its efforts towards implementing development projects in the region.”

    The December 22 meeting, according to Akande, “received a report that 38 licensed privately financed green field and mini-modular refineries investors have so far indicated interests in the establishment of refineries in the region, and at least ten of the licensed refineries investors are at an advanced stage of development.

    “The advanced stage of development means that these projects have passed the Licence to Establish (LTE) stage, while some have the Authority to Construct (ATC) licence or close to having it because they have met some critical requirements in the licensed stage.

    “There are three stages in the process of refinery establishment; Licence to Establish (LTE), Authority to Construct (ATC) and Licence to Operate (LTO).

    “So far, 10 modular refineries are located in five out of the nine states in the Niger Delta region; namely Akwa Ibom, Cross River, Delta, Edo and Imo states.

    “Also, two out of these 10 – Amakpe Refinery meant to be located in Akwa Ibom, and OPAC Refinery to be based in Delta State – have their mini-refineries modules already fabricated, assembled and containerized overseas, ready for shipment to Nigeria for installation. The total proposed refining capacities of the 10 licensed refineries stands at 300,000 barrels.”

    Vice President Osinbajo directed the Ministry of Petroleum Resources to keep providing the necessary support and creating the enabling environment for positive investments in modular refineries by engaging key government agencies.

    Such agencies include the Niger Delta Development Commission ((NDDC), Nigerian Content Development & Monitoring Board (NCDMB), and financial institutions, including the International Finance Corporation, African Export-Import Bank (Afreximbank), Nigerian Sovereign Investment Authority, Bank of Industry, amongst others.

    The Vice President stressed the importance of ensuring that the oil communities have a stake in the modular refineries and directed that an appropriate model be developed to achieve that.

    Other issues addressed at the end of the year meeting include the Maritime University, Ogoni Clean-up, and other related issues such as increasing support for Small and Medium-sized Enterprises (SMEs) in the region.

    On the Maritime University take-off, the Vice President noted that further support would be given by the federal government to ensure the training of staff to give the best to the incoming students of the institution.

    On the Ogoni clean-up, the Project Coordinator for the Hydrocarbon Pollution Remediation Project, (HYPREP), Dr. Marvin Dekil briefed the meeting that progress has been made in several areas of the clean-up.

    He listed the evaluation of existing water facilities in the four local government areas in Ogoni land in the process of providing clean drinking water, demonstration of remediation technologies at sites in some of the impacted communities; hiring of and the technical training of Ogoni scientists. The Coordinator added that health impact assessment would be conducted in some communities in the coming weeks.

    At the meeting were the Minister of Niger Delta Affairs, Usani Unguru Usani; Education Minister Adamu Adamu; Minister of State for Petroleum Resources, Dr. Ibe Kachikwu and the Minister of State for Environment, Ibrahim Usman Jubril.

    Others include the Director-General of Nigeria Maritime Agency (NIMASA), Dr. Dakuku Peterside; Managing Director, Niger Delta Development Corporation, Mr. Nsima Ekere; and the Special Adviser to the President on the Presidential Amnesty Programme, Brig-General Paul Boroh (rtd).

     

     

  • Ijaw youths reject FG’s proposal on modular refineries

    Ijaw youths on Wednesday rejected the Federal Government’s proposal on the establishment of modular refineries in Niger Delta.

    The youths under the aegis of Mr. Oweilaemi Pereotubo-led Ijaw Youth Council (IYC) Worldwide, said allowing only two refineries in each state would not stop oil theft and pipeline vandalism.

    Speaking at the Ijaw House in Yenagoa, Bayelsa State, Pereotubo appealed to the government to relax its preconditions for securing refinery licenses in the region.

    He said the terms listed by the federal government were capable of taking the establishment of the refineries beyond the reach of Niger Delta people.

    Flanked by members of his executive council, the IYC boss insisted that two modular refineries per state were “grossly inadequate” and would not stop illegal oil bunkering.

    He also argued that Acting President Yemi Osinbajo’s statement that the Niger Delta states would “host” the refineries was laced with ambiguities.

    He said the word “host” was synonymous with the current realities in rural communities where oil blocs were allocated to non-indigenes to the detriment of their hosts.

    “I am not aware that we have up to two Ijaw sons with oil blocs, yet we have oil. People who own them do not know the colour of crude oil. The federal government must give Niger Delta people oil blocs,” he said.

    He declared that the government must ensure that modular refineries were owned, managed and operated by Niger Delta people.

     

     

     

  • Dickson in US defends FG’s plans on modular refineries 

    Dickson in US defends FG’s plans on modular refineries 

    Governor Seriake Dickson of Bayelsa State, at the ongoing Oil and Gas Trade Conference (OTC) in USA, defended the decision of the Federal Government to establish modular refineries.

    The governor in the event holding at Houston, Texas, commended President Muhammandu Buhari-led administration for the initiative describing it as a brilliant idea that would create more jobs and increase the economic fortunes of Nigeria.

    He said the refineries when completed would also curb the illegal refining of petroleum products and the problems associated with it.

    A statement by Dickson’s Chief Press Secretary, Daniel Iworiso-Markson, said the governor spoke on the sidelines of the conference.

    The statement said Senator Foster Ogola, House of Representative members Fred Agbedi and Henry Ofongu; Secretary to the State Government, Serena Dokubo-Spiff, Commissioner for Investment, Trade, Commerce and Industries, Mr. Kemela Okara, Chief Economic Adviser, Duate Iyabe, Special Adviser on Investment, Cyril Akika were among other top aides of the governor, who accompanied him.

    Already Dickson said his government fully embraced the initiative by setting up a firm, Bayelsa Petrochemical and Refinery Company Limited, to partner with willing investors in the modular refineries.

    The governor reportedly told his audience in the global oil industry that as a home of of oil and gas in Nigeria, Bayelsa provides strategic investment opportunities and a conducive and secured environment to drive investment in that sector.

    He said that the participation of his state in the OTC was strategic adding that it would afford Bayelsa the opportunity to meet and leverage on prospective investors in various opportunities offered by his government.

    Dickson boasted that Bayelsa has in abundance gas feedstock to power the modular refineries.

    “It is interesting to note that we already have more than enough gas in abundance to deliver the three modular refineries so we are good to go”, he said.

    The governor assured prospective investors that all investments would be fully secured and allayed fears expressed on threats to destruction of pipelines.

    He said: “To a large extent, as a state government given our strategic and massive investment in security ‎over the last five years, we make bold to say that our state is one of the safest in the Niger Delta and Nigeria. So would-be investors have nothing to worry about”.

    ‎Dickson said that the Kolo Creek Gas plant which is the first independent power plant in the country has been running for in the state for years.

    He listed the opportunities available in the state to drive investments in modular refineries, power plants and allied petrochemical industries.

    The statement also said that Dickson was a guest at the Nigerian Content Development and Monitoring Board (NCDMB) strategic stakeholders’ event as part of the OTC roundtable side meetings, where the Minister of State for Petroleum, Ibe kachukwu, was said to be present.

    At the forum, the governor called on major players in the industry to partner with the state on a number of opportunities in driving investment in key sectors of the state.

    He lauded the recent federal government policy directing oil companies to relocate their headquarters to the oil producing states.

    He said that Bayelsa already provided the enabling environment to make the relocation of the oil companies easy and seamless through the 3.5km runway international airport presently under construction in the state.

    “The airport will enable the oil companies executives to be able to fly in and out of the state without the stress of travel time from Port Harcourt to Yenagoa and the completion of the new heliport will serve the purpose of helicopter shuttles.

    “In addition to that, the ambitious infrastructural projects provided by the present government to facilitate businesses in the state has made Bayelsa to be fully ready and open for business,” he said.