The Nigerian National Petroleum Corporation (NNPC) said it will begin the second phase of the rehabilitation of Port-Harcourt Refinery in the first quarter of 2021.
NNPC targets getting the four refineries running by 2023. The NNPC's Group Managing Director (GMD) Mallam Mele Kyari disclosed this at an interactive session with journalists in Abuja last weekend.
"The vision of revamping the pipelines is in tandem with the Refineries Rehabilitation Project which we have promised to deliver by 2023.
"I am happy to announce that the funding challenge which had stalled the second phase of the rehabilitation of the Port Harcourt Refinery has been resolved. The contract for the second phase will soon be awarded and work will commence in Q1 of 2021," Kyari said.
The GMD said much had been put in place to boost exploration and production with a view to raising national reserves to 40 billion barrels and daily production to 3 million. He also disclosed that a number of disputes that hampered production activities had been resolved with a view to boosting production to meet the 3m barrels per day production target.
"Key among these are disputes involving Shell and Belema Oil that shut in over 30,000 barrels per day production in OML 25."