Africa Angola Commodities Oil

Angola’s Soyo Refinery presented to investors in Dubai

The Ministry of Mineral Resources and Oil (MIREMPT) carried out last Tuesday, in Dubai, its second technical presentation (Road show) of the Soyo Refinery project to be implemented in the northern Zaire Province.

The Dubai Road show is being held after the MIREMPT held a similar act on the 10th of the current month in Luanda, in the presence of nearly one hundred potential stakeholders. The Roadshow (Technical Presentation) aims to capture investment, construction and operation of a refinery with capacity of processing up to 100,000 barrels of oil per day.

The state secretary for oil and gas, José Barroso, disclosed that at least 30 stakeholders were present at the event. The next step will be the opening of a public tender on Oct 24 in Luanda.

The public procurement law (Law Decree No. 9/16 of 16 June) is applicable to the tender, while to investments is applicable the corresponding Presidential Orders (Presidential Decree 10/18 of 26 June, Presidential Decree No. 208/19 of July 1, Executive Decree No. 217/17 of April 10 and Decree Law 17/09 of June 26).

From Oct 24 to November 01 is the time frame given for all stakeholders via online, and it’s been given a period until November 8 for the candidates to submit all required information for ”Due Diligence”.

The 18th of December date is reserved for the submission of proposals and the next day the public opening of the proposals will be held in the presence of all candidates or their representatives. Proposals will be evaluated between 20 December this year and 5 February 2020 and the winner will not be known until 4 March.

The construction of the Soyo Refinery is part of a programme that also includes the construction of such facilities in Cabinda (to produce 60,000 barrels/day) and Lobito (200,000 barrels/day), as well as the rehabilitation and modernization of the Luanda Refinery, which will quadruple its capacity from 300 to 1,200 tonnes per year.

Despite being the second largest oil producer in sub-Sahara Africa, with a daily average production of 1.4 million barrels, Angola imports 80 percent of its oil by-products, hence its commitment to building three new refineries and expanding the one in the capital of the country.

Source: Angop

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: