Business
Negotiations ongoing to establish a joint venture oil refinery in Abia – Otti, Ogunsanya
A delegation of Petroleum Technology Association of Nigeria (PETAN), led by its Chairman, Engr. Wole Ogunsanya, has been on a working visit to Abia State on how best to support the state realize its full potential in the oil sector as well as the possibility of establishing an Oil refinery in the state.
This is also as the Abia State governor, Dr Alex Otti has assured that his administration will provide the association the needed support for the proposed establishment of an oil refinery in the state.
Governor Otti, who spoke when he received in audience members of the organization assured that the Abia state government team will engage with PETAN to see how they can partner as joint venture to realize the project, assured the delegation that Abia has a lot of assets that have not even been identified beyond Ukwa-west, saying that there are other areas yet to be explored.
“I will like to inform you that we are willing to work with you as we will take our Partnership with you very seriously and I thank you for identifying us as one of the first states,” he said.
Governor Otti further told the delegation that beyond Oil and Gas, the state boasts of other resources and expressed happiness that PETAN is waxing stronger.
“We have some assets that have been identified beyond Ukwa West, where Oil activities are centered in Abia state. I have it on good authority that there are other areas of the state which have reserves that could be harnessed.
“And by the time we have serious players, you begin to explore some of these places around Umunneochi and a few other places. We will see how we can partner the more. We take our Partnership very seriously and I want to thank you for identifying us as one of the first states. If there is any support you need do not hesitate to reach out to us. I would like to be briefed every fortnight on how we are doing”.
Also Speaking, the Commissioner for Petroleum resources Professor Joel Ogbonna disclosed that there are about 100 capped Oil wells yet to be tapped, stressing that if the project is realized Abia will be among the top Oil players in the world.
Earlier, the Leader of the delegation and Chairman of PETAN Wole Ogunsanya explained that their visit was to engage in discussions with the government on having a refinery in the state.
He hinted that if the project succeeds, it would serve Abia and neighboring states, noting noted that Abia state will be the first state where the Association would be executing such a programme/project in Nigeria.
“We own the equipment that would find the oil and bring it out of the ground this would make the work easy for us”, he pointed out.
He said that PETAN, an indigenous company providing Oil and Gas Services, is willing to collaborate with the Abia state government in establishing the refinery to serve Neighbouring states, adding that PETAN has all it takes to develop the Oil and Gas sector of the state.
