Azikel Petroleum to set up world-class refinery in Nigeria

Indigenous petroleum products refinery company, Azikel Refinery, has concluded deals with Ventech Engineers International LLC Pasadena, Texas USA, to complete the final stages of its refinery in Nigeria.
The contract was signed last Monday in Houston, Texas USA. Azikel Refinery is backed by Azikel Petroleum, a part of Azikel Group.

The group was among the 22 private refineries licensed by President Muhammadu Buhari’s administration in 2015 with the aim of encouraging local investment in the refinery sector. It is also aimed at creating value in the abundance of crude oil production in Nigeria and creating sufficiency of refined products in the country.

According to a statement by the owners, Azikel refinery is a 12,000 BPSD Hydro-skiing refinery, with the production of PMS (petrol), Diesel (AGO), Kerosene, Aviation Fuel and liquefied Petroleum Gas (LPG) both for domestic and industrial use.

At the contract signing ceremony in Pasadena, Texas, President of Ventech Engineering International LLC, Ian Anderson assured the Group President of Azikel Group, Dr. Eruani Azibapu, who was present with the Executive and Non-Executive Directors of Azikel Group, a host of US based investors and businessmen as well as Nigerian community in the United States, that the refinery will be one of the best optimally operated refineries and with high grade quality refined product when completed. The refinery will be completed in 22 months on schedule.

The Azikel Refinery upon completion will increase the supply of refined petroleum products to the Nigerian market. It is hoped that full operation of the refinery will alleviate the scarcity of petroleum products in the immediate area of operation and Nigeria.

Azikel Group President, Dr Azibapu, assured Nigerians present at the event that Azikel Refinery will be a pivot of change by creating employment in the Niger-Delta region as well as industrialisation of the region.

Eruani also emphasised the need for continuous effort in adding value to Nigerian crude oil to ensure that Nigeria becomes self-sufficient with refined products.

Director of Investment and Strategy, Mr. Richard Howarth requested Ventech Engineering and the US-based investors and businessmen to assist the Nigerian companies to create value to the Nigerian economy. He also assured Nigerians that as a British citizen with the Azikel Group, the Azikel Refinery project will be completed on schedule and will operate with international best practices aimed at creating value and sustainability.

In the construction phase, Azikel Refinery will employ over 500 workers and upon completion, will create first, second and third tier employment and other associate businesses.

The refinery is expected to commence production in 2018. The Azikel Petroleum team is committed to the completion schedule as the company is working assiduously with the various EPC contracting firms of international repute. The funding of the Azikel Refinery is being secured from Exim Bank, EPC contractor financing and Export Credit Agencies.

Azikel refinery is part of Azikel Group which consists of Azikel Dredging, Azikel Air, Azikel Power and Azikel Petroleum.

The Group commenced business in the sand, aggregate and mining industry, with the supply of sand to the construction industries for building houses and roads. They later expanded into main scale reclamation and dredging services.


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