Azikel refinery to commence operations in 2018

One of the private refineries licensed last year, Azikel Refinery, is gearing up to start operation in 2018.

Towards this end, the company has awarded a contract to a Texas, United States of America based company, Ventech Engineering LLC, for the manufacturing and construction of a 12,000 BPSD hydro-skyming refinery for the production of variants of LPG, petrol, kerosene, aviation fuel, diesel and heavy fuel oil.

Azikel Refinery was represented at the paper signing event by its President, Dr Eruani Azibapu; Director of Investment and Strategy, Mr Richard Howarth,  and the Operations Director, Mr. Presley Asemota. The Ventech team was led by its President/CEO, Ian Anderson. Others with him were the Vice President, Scott McClary; the General Counsel, Laura Hotard, and the Business Development Manager, Mr Brian Swientonioski.

The event, which took place in Texas, was witnessed by representatives of banks, export credit agencies, US businessman and organizations as well as the Nigerian community.

Speaking at the ceremony, Anderson assured that Ventech’s usual high degree of professionalism would be deployed in the construction of the Azikel Refinery, with the objective of ensuring that the specifications of the products from the refinery meet international standards.

While speaking about the funding of the project, Mr Ade Dada, a US-based Nigerian, said funding had been secured from Exim Bank, Export Credit Agencies and EPC Project Finance.

He added that the construction of the Azikel Refinery would create immediate economic stimulus in Nigerian economy. “It will also create immediate employment during the construction phase and long term employment during the operation,” he said.

Azikel Group, which is the sponsor of Azikel Refinery through Azikel Petroleum, is committed to the creation of employment, industrialization of Nigeria and its sustainability.

The Group is into dredging, aviation and power generation through which it has created a lot of employment opportunities.

Azikel Power, which is part of Azikel Group, was recently granted an on-grid power generation licence of 500MW.