While Nigeria is still battling crude oil theft and lack of investment occasioned by lack of foresight and seriousness, her counterpart in OPEC, Qatar, and owner of QatarEnergy on Sunday confirmed it has taken Final Investment Decision (FID) on $8.5 billion Polymer facilities, scale up global investments.
Synthetic polymers are derived from petroleum oil which Nigeria has in abundance, and made by scientists and engineers. Examples of synthetic polymers include nylon, polyethylene, polyester, Teflon, and epoxy.
QatarEnergy and US giant Chevron Phillips Chemical have taken the final investment decision to build a massive petrochemical complex in Qatar, valued at $6 billion.
Chevron which also has large presence in Nigeria is unfortunately not thinking along this line of investment in the country, rather it is planning to divest from some it assets in Nigeria on account of the two major factors that have been mentioned above.
The Qatari state-controlled player on Sunday confirmed the development, saying the FID “is the largest investment in its history” and comprises a huge “integrated olefins and polyethylene facility at Ras Laffan Industrial City”.
QatarEnergy will hold a 70% stake in the facility, while the balance 30% is being held by Chevron Phillips Chemical — a joint venture between Chevron Corporation and Phillips 66.
The Qatari giant also announced the award of the key engineering, procurement and construction contract for the ethylene plant to a pairing of South Korea’s Samsung Engineering and Taiwan’s CTCI.
Italy’s Maire Tecnimont won the EPC contract for the polyethylene plant, while Emerson of the US has landed the key automation contract, QatarEnergy stated.
Samsung Engineering on Monday confirmed the EPC prize, claiming it has received a Letter of Award for the petrochemical plant in Ras Laffan Industrial City, 80 kilometres north of Doha.
“Samsung Engineering will be in charge of the major ethylene production facilities with its scope of work including furnaces, C2 hydrogenation, hydrogen purification unit and three main compressors,” it said.
Just last week, President Muhammadu Buhari charged security agencies to eradicate crude oil theft and pipeline vandalization in the Niger Delta region before May 29, 2023, stressing that government can no longer tolerate the criminality.
Minister of State Petroleum Resources, Timipre Sylva gave the directive, on behalf of the President while addressing troops of the Joint Task Force Operation Delta Safe, in Effurum, Delta State and Port Harcourt, Rivers State, respectively, on Thursday.
Sylva said Nigeria can no longer tolerate the activities of the criminals who have through their criminalities destabilized crude oil productions in the last couple of years.
“Mr President has mandated us to eradicate crude oil theft. He has directed that no liter of crude oil should be stolen in the country again especially in the South South. He wants crude oil thief completely eliminated by May 29 2023 as one of the legacies of his government. This is the message from Mr President. We are not where we want to be but we are happy at what we are seeing. ” he said.
Prior to the renewed efforts of the Federal Government in tackling the menace of crude oil thieves, the nation’s daily crude oil production was about 900,000 barrels per day but the scaled-up security efforts of the Federal Government has helped to shore up production to about 1.5 million barrels per day.
The minister added “I am happy to hear that morale is high here. We were here a few months ago to hand over the mandate of Mr President to you and that is to ensure that there is zero tolerance for crude oil thief in the region. We want to thank you for what you have done so far but there is still more to be done for us to achieve 100%,” Sylva said.
He noted that “Nigerians have noticed what you are doing, the managers in the oil industry have noticed what you are doing and indeed the international community have noticed what you are doing. We are happy at the improvement we are seeing in the oil and gas sector. We have seen the significant improvement and that’s why we are here on the mandate of the president to thank you for what you are doing. He has said there should be no reason why we (Nigeria) should be loosing essential commodity that is the life wire of the country”.
“We are here to ask you to redouble your efforts so that we will be able to tell Nigerians and the President that we have zero tolerance for crude oil thief,” the minister stated further.
He said when the team visited the region about three months ago on the mandate of President Muhammadu Buhari, the situation was very disturbing noting that “today we have seen a significant change in the whole thing and we are happy about it. We want to return in another few months to show Nigerians that we have successful tackles the problem of oil thief and pipeline vandalization in the country”.
While again thanking the combined team of security agencies for their efforts he urged them not to relent in the feat they have achieved so far adding that “going forward we want to have zero tolerance for crude oil thief in the country.
In a brief remark, the Group Chief Executive Officer NNPC Limited Mele Kyari disclosed that the Federation Government has set up a special court to expedite the trials of criminal elements involved in oil thief and pipeline vandalism in the Niger Delta region.
Kyari who also expressed gratitude to the troops for the excellent works they were doing to restore confidence in the pipelines said he was sure that full confidence will be restored in crude oil production in the shortest possible time.
He also expressed confidence in the collaboration between security agencies and the private security company contracted by NNPC Limited in the campaign to restore full confidence in the sector.
The Chief of Defence Staff General Lucky Irabor in his remarks urged the troops to remain steadfast in the campaign to stamp out crude oil thief in the country!
