OGBIA—A Bayelsa State-based industrialist and  President of Azikel Group, Dr. Azibapu Eruani, has said that the oil and gas section of the group is poised to support the Federal Government in improving capacity and increasing production and supply of petroleum products in the country.

Eruani stated this in a chat with newsmen during the coronation of His Royal Majesty, King Dumaro Owaba, Obanohban III of Ogbia Kingdom, in Ogbia Local Government Area of the state.

The Azikel Group of Companies (AGC), owned by an industrialist from Bayelsa State, yesterday, said its refinery would begin operation in Bayelsa State in 2018.

The President of AGC, Dr. Azibapu Eruani, who spoke in Yenagoa, hailed the President Muhammadu Buhari-led Federal Government for giving oil refining and prospecting licences to private oil firms.

Eruani said his company was one of the beneficiaries of the government’s initiative, adding that the company will begin local petroleum production in 2018.

State-owned Nigerian National Petroleum Corp. (NNPC) and Nigeria's Department of Petroleum Resources (DPR) have opened their doors to private local and international investors to boost both crude oil processing capacity and output of finished fuels. The move comes as part of a plan to eliminate the country's inability to satisfy domestic refined products demand and curb its reliance on foreign imports.

The call for private capital investment to help overhaul the country's refining sector follows a series of efforts by recently elected President Muhammadu Buhari to enhance the focus, accountability, competitiveness, and transparency of state-owned petroleum operations, measures which included a restructuring and reorganization of NNPC in early 2016 (OGJ Online, Mar. 4, 2016). 

Azikel Petroleum Limited recently signed a contract with Ventech Engineering LLC of Texas, USA, for the construction of the 12,000-per-streaming-day hydro-skimming modular refinery, which is to be called the Azikel Refinery.

Ventech Engineering is a leader in modular refinery construction. Dr. Eruani Azibapu Godbless, president of Azikel Group, signed on behalf of Azikel Petroleum Limited, with the Director of Investment and Strategy, Mr. Richard Howarth, and the Executive Director, Operations, Mr. Presley Asemota, present at the signing.