Recently updated on May 1st, 2018 at 06:38 pm
Brass Fertilizer & Petrochemical Company Limited (BFPCL) has secured a $6 billion offshore facility from BP Oil International Limited, London for the take-off of its methanol plant in Bayelsa State.
According to the Company’s Vice Chairman, Chief Ben Okoye,
“Phase one of the project has commenced following the securing of $6 billion from BP Oil International Limited, London. We also secured 25 years 300millions of standard cubic feet per day (mmscf/d) gas supply from Shell Petroleum Development Company of Nigeria Ltd (SPDC-JV).
The project is designed to be built in two phases and phase one which is expected to come on stream in 2020, will produce 1.66 million metric tonnes (MT) of methanol and 1.3 million metric tonnes of urea per annum. Phase one also includes a dedicated Export Jetty and a 300 mmscf/d gas processing plant. On completion, the project is expected to generate an annual turnover of $1.5 billion. The project is extremely strategic to the country’s agricultural and industrial sectors. It will contribute to the country’s self-sufficiency in fertilizer and methanol based industrial raw materials.”
On jobs creation, the project will employ 15,000 workers indirectly during construction and 5,000 permanent workers after the project is completed.”
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