Investment Business - News - Oil & Gas - June 11, 2021

UPDATED: Brass Petroleum Products Terminal will curb illegal fuel refining – Sylva

To generate 6,000 jobs, says Kyari

MEDIATRACNET

The construction of the Brass Petroleum Products Terminal Limited ( BPPT) would curb illegal refining of petroleum products and stabilise fuel pricing in the Niger Delta region, Minister of state for Petroleum Resources, Timipre Sylva, has said.
The Minister was speaking on Friday in Abuja at the shareholders’ agreement signing between the Federal Government and investors in the project.
Sylva said when completed and operational, the project would help to sanitise the system in the region. 
The shareholders in the BPPT are the Nigerian National Petroleum Corporation( NNPC), Nigeria Content Development and  Monitoring Board (NCDMB) and ZED Energy Limited.
He said the BPPT would help close the infrastructure gap in distribution of petroleum products and also stop illegal refining activities taking place in some parts of the Niger Delta.
“Today is my happiest day as a minister because of the successful Nigeria International Petroleum summit and this happening now is an indication that we are driving our aspiration.
“This agreement has scored Mr president so high, because nobody has impacted the oil sector more than he has done.
“Apart from approving this agreement,  the president also approved building of Oloibiri museum, which is moving at a high speed
“Construction of this depot in the Niger Delta is a big milestone as the people in the riverine areas buy petroleum products five times the price other people purchase it, ” he said.
To ensure the supply of petroleum products, the Minister said floating petrol stations were built to service the riverine areas, but the depots or terminals  to service them were never built over the years.
This project, he said, would assuage the problems of the Niger Delta people and curb illegal refining of petroleum products as a result of lack of access to products.
“With this happening, we will have products at the same rate as anywhere in the country, ” he added. 
He commended the effort of President Muhammadu  Buhari in ensuring the development in the Niger Delta region with approval to build this terminal,  Brass Fertiliser plant,  Gas top company among others.
The N10.5 billion project is expected to deliver an automated 50 million litre depot with two-way product jetty, automated loading bay, and 6 automated tanks for storage of 30 million litres of Premium Motor Spirit (PMS)and 20 million litres of Automotive Gas Oil (AGO) and Dual Purpose Kerosene (DPK).
Sylva said the establishment of the Terminal further demonstrates Mr. President’s commitment to the enhancement of the livelihood of the Niger Delta people particularly, the riverine communities in Bayelsa State where people purchase products at exorbitant prices due to logistics challenges associated with transporting products to that area.
Speaking shortly after signing the agreement, the Group Managing Director of the NNPC, Mele Kyari said the Corporation was proud to be part of the project, which aside from ensuring products availability in all nooks and crannies of the Niger Delta, would also guarantee the nation’s energy security and generate employment.
“This Terminal will create 1,000 direct jobs during the construction phase, and over 5,000 indirect jobs during its operation.
“Considering the potential for employment when completed, this will definitely reduce youth restiveness in the Niger Delta area and will also address the problem of illegal refining in the area.” I am happy that the project would finally come on stream.
“This should have happened 30 years back. But we are proud that it is finally coming up today. The location of a depot offshore is a clear business case.
“We will deliver the project,  building jetty and depot does not take too long. our partners and we,  will deliver the project and put it in place.
“We will be held responsible by the Minister and all stakeholders. So we will put pressure in operation to make sure it is delivered,” Kyari said.
Also,  the Executive Secretary Nigeria Content Development Monitoring Board ( NCDMB), Simbi Wabote commended the National Petroleum Investment Management Services (NAPIMS) for the inter – ministerial collaboration to get to the stage of signing the agreement.
He said the team did an impressive work and urged all stakeholder to continue with the tempo until the project was delivered.
“The board members will continue to help drive this project,  we will demand for performance and accountability,” he said.
He said that the project was expected to create jobs and help stop illegal refining in the region
Wabote urged all partners to ensure that the project was delivered within the time frame.
Also, the Managing Director ZED Energy Limited, John Dankori thanked the Federal government for giving them the opportunity to be part of the project.
Represented by Onesi Obende,  he assured that his company would do all required by them to ensure the project was delivered within the time frame.
Earlier,  in his presentation, the Managing Director of NAPIMS, Bala Wunti said 40 percent  of onshore oil was produced from Bayelsa.
Wunri said that NAPIMS was happy  to be part of the project and had done everything within its power to get to this stage.
He said the cost estimate before the taking of Final Investment Decision was N10.5 billion, adding that the fund would come from partners.
The project, he noted, was expected to be delivered by 2023, adding that it would bring a lot of benefits to the region.
He said that the depot when completed would be unique as it would have dual services for land and marine truck loading.
“This is something  great,  we are honored that we are chosen as instrument to implement this project,” he said.

 

 

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