The management of First City Monument Bank (FCMB) Limited and the Duport Midstream Company Limited (DMCL), on Thursday, said the newly built energy park in Egbokor, Orhionmwon local government area of Edo State would be ready for commissioning in 60 days.
The duo spoke in Edo State during an inspection tour of the facility, which is being financed by FCMB, in Benin City.
Speaking after assessing the project, Yemisi Edun, managing director and chief executive officer of FCMB, expressed satisfaction with the progress of the facility, saying that the modular project is remarkable and driven by technology.
Edun said the bank is committed to creating purpose in some key sectors, including technology, noting that “seeing this project coming on board, using technology to actually develop refineries and produce energy in the country, we are convinced that it is a project we should partner with.
“The project is doing very well in terms of financing and rating. I can say they are almost getting to completion. The management is very much convinced that, in the next 60 days, they should be able to commission the project and it fits our timeline.”
Corroborating, Akintoye Akindele, the chief executive officer of Duport Midstream, said by the end of March, they will be ready to commission the project, noting that “commissioning is at the behest of the government and it happens at different levels.
“The regulator must come and ensure that all we designed are ready. So, we must test for a while, we will start testing in the next 30 to 45 days for the government to confirm and commission,” he said.
When it comes on stream, he said the facility would leverage on infrastructure to deliver energy to the country, reduce dependence on importation of petroleum products, create jobs, and ensure optimal utilization of the nation’s assets.
Akindele, who explained that the energy park is a facility that has refinery operations, gas operations, power plants, and a data center, said in phase one of the project, they have designed a 10,000 barrel per day refinery, 60-million-scf gas processing facility, 10-million-scf compressed natural gas (CNG) facility, 50 megawatts power plant and a data center.
“However, this will be delivered in modules. Module one or phase one will be going live in the next 30 days; and after we get approval from the Department of Petroleum Resource (DPR) to go live, we will be starting with a 2,500 barrel per day refinery, 40-million-scf gas processing, 5megawatts power, a data center and almost 20,000 metric tonnes of storage.
“Our plan is that once we do this at the initial take-off, we will then add the other modules to it in a quarterly and biennial way. In that way, we will be able to utilize assets optimally, avoid wastage, look after the environment and create jobs,” he said.
SOURCE: businessday.ng