The management of the Nigerian Midstream and Downstream Petroleum Regulatory Authority has issued an operational licence to Edo Refinery and Petrochemical Company Limited, Ologbo, in the Ikpoba-Okha Local Government Area of Edo State.
The NMDPRA is the technical and commercial regulator of midstream and downstream operations in the petroleum industry.
Issuance of operational licence is the final stage of approval from the regulatory authority which implies that the plant can now fully operate as a refinery.
The authority’s Chief Executive Officer, Ahmed Farouk, in a ceremony on Tuesday, handed the certificate to AIPCC, the parent company of Edo Refinery and Petrochemical Company Limited.
Farouk, who was accompanied by the Executive Director, NMDPRA, Hydrocarbon Processing Plant Installation and Transport Infrastructure, Francis Ogaree, handed over the operational licence to the Refinery Head, Technical Operations, Segun Okeni.
During the handover, Farouk commended the company for achieving the feat and enjoined the firm to do more.
On his part, Okeni assured the management of the refinery that the regulatory authority is a business enabler and would be ready to give AIPCC Energy/Edo Refinery all the necessary support in all its projects.
Responding on behalf of AIPCC Energy, the Head of Technical Operations of Edo Refinery and Petrochemical Company Limited, Segun Okeni, said the company is out to make her contributions to the petroleum refinery and gas processing subsector.
He disclosed that already, AIPCC is developing three other projects and one of such would be completed in the next year.
Okeni in a statement made available after the ceremony said that the operational licence is the final stage of approval from the regulatory authority, which he said, implies that the plant can now fully operate as a refinery.
He added, “It starts from License to Establish, Licence to Construct, Approval to introduce Hydrocarbon, pre-commissioning and commissioning, operate the refinery for some time to ensure it can do so and finally the Licence to Operate LTO.”
Okeni revealed that the refinery is finalising arrangements with an indigenous oil company to access crude oil for optimal production capacity.
He added, “We are finalising a major crude supply agreement with an indigenous oil company. Although the Nigerian Upstream Petroleum Regulatory Commission and NMDPRA have been supportive once we find a source of crude they will normally give us urgent approval.
“However with this licensing, NUPRC ought to consider existing local refineries in the bidding round for marginal field.”
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