Edo Modular Refinery order 150,000 barrels crude
Within weeks of starting operations, the Edo State modular refinery placed an order for 150,000 barrels of crude oil to meet the growing demand of its clientele.
This was disclosed in a statement sent on Sunday and signed by Crusoe Osagie, the Special Assistant on Media Projects to the Edo State Government.
The statement added that Decklar Resources Inc. and Millenium Oil and Gas Company Limited, the operators of the Oza Oil Field, would supply the crude.
The Edo refinery was built with a 6,000 bpd capacity and is currently being expanded to 21,000 bpd. 200,000 liters of low-pour fuel oil, 300,000 liters of naphtha, and 500,000 liters of diesel can be produced at the facility using its feedstock, according to the statement.
“Decklar and Millenium are at an advanced stage of executing a new 150,000 bbls crude oil sale and purchase agreement with ERPC, which is expected to include terms for invoicing and payment after the delivery of each cargo of 10,000 bbls of crude oil,” stated Sanmi Famuyide, the company’s chief executive officer, in a statement.
“The fact that we are still getting paid for selling crude oil from the Oza field makes us very happy. Consistent deliveries of oil are being made to ERPC in Edo State, and it is anticipated that the company and our co-venturer Millenium will be able to increase both the volume and consistency of oil deliveries to the market with the expected doubling of the contracted truck fleet.
“It is anticipated that the extra trucking capacity will present opportunities for further crude oil delivery to other prospective customers in the near future.”
10,000 barrels of crude feedstock were the first batch of crude oil that the modular refinery produced in January.
