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Oando diversifies to industrial sector
Oando PLC has announced expansion of its investments from oil and gas into
industrial sector. The company cited its Kaduna Lubes Plant for the
manufacturing of Oleum range of lubricants, and its Greenfield products
reception terminal at the Lekki Free Trade Zone, Lagos as examples of its
expansion drive.
“Apart from oil exploration and production, importation and marketing of
petroleum products, construction and distribution of natural gas to
industrial and commercial users, including servicing of oil field equipment,
the company is also playing key role in industrializing the nation,” said
Head, Corporate Communications, Meka Olowola.
He stated that the reasons for diversifying the company’s operations was to
touch lives in every sector and community it operates and to deliver robust
returns to shareholders and other stakeholders.
According to him, the company is not just about oil and gas, it has
participating interest in United Cement Company of Nigeria, UNICEM, Calabar,
and other businesses in related sector.
He further disclosed that the capacity of the lube base oil manufacturing
factory will soon be increased from 220 million litres / year to 227 million litres per year.
“Oleum’s product quality and integrity has helped in checking the menace of
adulteration and tampering.
All the products are packaged in unique tamper-proof casings in our ultra
modem plant, which allows more batches to be rolled out to meet customer
needs,” he stated.
The brand’s competitive pricing has also attracted more customers to its
fold. In addition, it comes complete with technical support services for
customers in the form of training, seminars and after sales services for
both companies and individuals
On the green field projects at Lekki Free Trade Zone, he said that the
Refinery and Terminals are the newest business units of the Oando Group
managing the development of an ultramodern 240,000 barrels per day (bpd)
Greenfield petroleum refinery and a 210,000 MT capacity product reception
terminal.
He said the company’s entry into Refinery and Terminals sectors complete its
footprints in all segments of the energy value chain to become Nigeria’s
leading integrated energy solutions providers.
“The refinery promises to be one of the most competitive in the world as it
is physically close to Nigeria’s high quality crude, a huge local and
regional market and is sophisticated enough to produce premium refined
products,” he stated.
With a ‘bankable’ feasibility study conducted by Wood Mackenzie and Foster
Wheeler, Oando Refinery and Terminal has demonstrated its commitment to
meticulous project execution.
Oando, with its usual execution excellence and strict operational controls
that has resulted in several successful projects in the past, is taking
deliberate steps to ensure the refinery project is likewise implemented
flawlessly. This is evident in the comprehensive detail of this feasibility
study coupled with the choice of world-class vendors.
The 210,000 MT capacity terminals is conceptualized to be best-in-class and
the largest product terminal in the sub-region dispatching over 500 trucks
per day in what is set to revolutionize petroleum products distribution in
Nigeria. It will be located in the same location as the Oando Refinery and
will be a precursor to the development of the facility.
The terminal will have a Single Point Mooring, SPM facility located about
7km offshore, which will support the berthing of 80,000 deadweight tonnage
(dwt) vessels for the first time in West Africa.
Pursuant to this, Oando has commissioned the Front End Engineering Design,
FEED of the terminal scheduled to be completed by the third quarter of 2009,
whilst the entire project is expected to be completed in the first quarter
of 2012.
