The Nigerian National Petroleum Company Limited (NNPC Ltd) has signed a Memorandum of Understanding (MoU) with two Chinese firms for the restart, operation and expansion of the Warri and Port Harcourt refineries.
NNPC’s Chief Corporate Communications Officer, Andy Odey, said that the agreement was signed with Sanjiang Chemical Company Limited and Xingcheng (Fuzhou) Industrial Park Operation and Management Co. Ltd.
Odey says that the deal is expected to pave the way for a Technical Equity Partnership (TEP) aimed at completing ongoing rehabilitation works and ensuring efficient operations of the refineries.
Also NNPC’s Group Chief Executive Officer, Bayo Ojulari, described the agreement as a major milestone following months of negotiations.