Bureau of Public Enterprises (BPE), has resumed the process of privatising the Port Harcourt Refinning Company (PHRC).
The privatisation agency said weekend, that it is seeking prospective core investors to purchase 51 per cent or more of the Federal Government shares in the multi-billion naira oil facility.
In inviting new Expressions of Interest (EOI), the Bureau said deadline for submission of applications is January 19, 2007. Existing pre-qualified bidders, the BPE said, need not re-apply, but those still interested in participating in the bid process may simply revise their bids.
The Port Harcourt Refining Company is made up of two refineries at Alesa-Eleme near Port Harcourt in Rivers State.
The first plant known as Port HacourtI is a topping and reforming refinery with a name-plate distillation capacity of 3,000,000 MTA (60,000 bpd). It began operations in 1965, but was destroyed by fire in 1989, and rebuilt using current technology.
The second, known as Port Hacourt II, is a complex, conversion refinery with a nameplate distillation capacity of 7,500,000 MTA (150,000 bpd). It came on stream in 1988 and was originally intended to serve as an export refinery. It has been subsequently dedicated to domestic market service, given frequent interruptions in supply from the other three refineries in Nigeria. Port Harcourt II has considerable clean fuel capability, including lead-free gasoline.
Head Public Communications, BPE, Mr Chigbo Anichebe, said prospective applicants should be international and local oil and gas companies with proven track record in the successful ownership, management and operation of crude oil refineries.
To be pre-qualified, prospective investors must provide verifiable evidence of their ability to own, manage and operate a refinery of similar capacity.
Such firms, Chigbo said, will be expected to present among other things, evidence of successful investment(s) in and management of refineries, plus verifiable evidence of strong investment capabilities.
Dec182006