The African Refinery Group has announced the commencement of the revamp of the Bonny Export Terminal facilities located in the Port Harcourt Refining and Petrochemical Company in Rivers State.
A statement issued by the Group’s Executive Director in charge of subsidiaries, Mr Omotayo Adebajo, said this marks the second downstream facility within the Port Harcourt refinery that the company will be revamping under the 17-year Concession Agreement signed with the Nigerian National Petroleum Company Limited on July 9, 2024.
The statement disclosed that ARG had previously implemented a revamped programme for the 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.
The statement disclosed that the Bonny Export Terminal which comprises the onshore facilities adjourning PHRC, the offshore export platform, and the interconnecting pipeline system was commissioned 24 years ago, but has never been used since commissioning.
According to the company, the announcement of the commencement of the revamp is in fulfilment of its contractual obligations to NNPCL under the concession agreement to turn around 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.
African Refinery Group 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 “the new milestone is a further testament to the unwavering commitment and courage of the President Bola Tinubu administration, the NNPCL’s leadership and could have only be achieved with the support from various NNPCL subsidiaries including Port Harcourt refinery, Nigerian Pipelines And Storage Company Limited and NNPC Exploration & Production Limited.”
