Eni to refurbish Nigerian refinery

ROME, January 24, 2017 – Nigeria’s oil minister and NNPC chairman, Emmanuel Ibe Kachikwu, and Eni’s CEO Claudio Descalzi signed a Memorandum of Understanding (MoU) on Monday to significantly expand the Italian major’s engagement in the West African country.

“Oil and gas production operations will intensify with an increased focus on development and exploration activities in the onshore, offshore and Ultra Deep Water operated areas,” Eni said in a statement.

In addition, Eni will help rehabilitate one of Nigeria’s dilapidated refineries, at Port Harcourt, which is operating at less than 10% of its capacity. Due to the obsolescence of the country’s four state-run refineries, Nigeria has faced fuel shortages over the past few years.

A third area of co-operation between Eni and the Nigerian government outlined in the MoU involves the country’s electrical grid and renewable energy projects. For example, Eni will work to double power generation capacity at the Okpai independent power plant on a fast-track basis. Once completed at close to 1 GW, it will be one of the biggest power plants on the African continent in terms of capacity.

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