As Confirmed by the Azikel group on its significant progress, “Azikiel Petroleum Refinery” is set to become Nigeria’s second-largest private oil refinery, with current completion standing at over 87 percent.
The refinery, which will have a capacity of processing 12,000 barrels of oil per day, is situated in Gbarain, Yenagoa, Bayelsa State. It is projected to reach mechanical completion in 2024, with commercial production slated to start the following year.
To further advance its production capabilities, Azikiel plans to initiate a second phase, bolstering the capacity to 25,000 barrels per day once the first phase is operational.
Upon full-scale functioning, the refinery is expected to produce two million litres of top-grade EURO V petroleum products every year. Aspirations for the refinery include involvement in refining petrol, diesel, and aviation fuel, with ambitions to influence the cost and quality of petrol within Nigeria.
This ambitious project is currently under the expertise of McDermott, the United States-based Original Equipment Manufacturer (OEM) and contractor responsible for engineering, procurement, and construction (EPC). The company has been tasked with crafting the Inside Battery Limits (ISBL) Process Modules of the refinery stateside.
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Dr. Eruani Azibapu, who helms the Azikel Refinery as its president, shared that the majority of the ISBL Process Modules have already been transported to Nigeria.
The completion and installation of the Outside Battery Limits (OSBL) and Balance of Plant (BOP) components have also been reported.
Azibapu expressed satisfaction with the refinery’s progression, indicating a current overall completion of 87 percent.
“We are looking to achieve mechanical completion by year’s end. We expect to launch into commercial production next year as we start processing crude oil,” he noted. McDermott, the EPC partner from the US, has shipped 90 percent of the ISBL Process Modules.
Belonging to the larger Azikel Group, which has interests in dredging, power generation, aviation, and even a mini refinery in the US, the Azikel Refinery is part of a broader hydro-skimming venture based in the Niger Delta.
In conclusion, Azibapu pointed out that obtaining foreign exchange for the project had been a significant hurdle, but emphasized the importance of completing the project for the commencement of production.
With optimistic estimates, the Azikel Group anticipates over 80,000 indirect and more than 700 direct new job opportunities arising from the refinery’s operations.
