General Electric stated that it and its teams of partners, including a consortium of engineering, procurement and construction partners, off-takers, traders and some financiers would be involved in an initiative to invest in Nigeria’s three refineries located in Port Harcourt, Warri and Kaduna, as well as in selected power projects across the country. This statement was made in a presentation that GE made to the Managing Director Nigerian National Petroleum Corporation, Dr. Maikanti Baru, in Abuja.
GE stated that, “We were involved in the tenders that started around last year, which were subsequently withdrawn but our commitment to bringing the refineries on stream is still very deep and we are very serious about it.
“We propose that work commences either with the Warri or Port Harcourt refinery as a pilot, as we set a target to improve the refining capacity before the end of 2017.”
GE’s expression of interest to work with NNPC to revive these refineries came right after Eni’s proposal to work with the country to rehabilitate one of its refineries.
General Electric expressed its readiness to work with the NNPC to make crude oil production in the offshore fields profitable for the benefit of both parties and other stakeholders, also adding that it is ready to work to strengthen it already existing working relationship with the corporation to expand the power business.
Dr. Maikanti Baru appreciated the firm’s offer for support to boost the nation’s offshore production and raise the crude oil reserve ratio replacement, urging the company to also tap into the opportunities on offer in medical supplies as the NNPC moves to commercialise the services of its 52 hospitals and clinics spread across the country in the years ahead.