African Refinery Group (ARG) has announced the commencement of the revamp of the Bonny Export Terminal (BET) facilities located in the Port Harcourt Refinery.
In a statement, ARG’s Group Executive Director in charge of subsidiaries, Omotayo Adebajo, explained that the ARG is the LOT1 Concessionaire and operator of several of NNPC’s downstream crude oil and refined petroleum products pipelines, storage depots, supply, distribution facilities and other related and ancillary infrastructure.
The project marks the second downstream facility within the Port Harcourt Refinery that ARG will be revamping under the 17 year Concession Agreement with NNPCL signed on the 9th July 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 Tuesday 26 November.
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 in the year 2000 but was never used since commissioning.
According to the company, this announcement of commencement of the revamp, is in fulfilment of its contractual obligations to NNPCL under the Concession agreement to turn-around BET, to 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.
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