Imo Thomas -Umuahia.
Abia state government is billed to enhance the state government’s oil capacity.
This was revealed by Prince Okey Kanu, Abia state commissioner for information while briefing newsmen on Tuesday after this week’s EXCO meeting chaired by Governor Alex Otti.
He said that to give vent to the oil production capacity; the state government has established a Special Purpose Vehicle (SPV), with the Abia state government taking up 40 percent, the Petroleum Technology Association of Nigeria (PTAN) holding 25 percent, and the balance of 35 percent which would be taken up by the private sectors.
This move, he said, would help the state government to activate its capped wells and, when fully operational, would enable the government to produce gas and oil, which would support the Abia Innovation Industrial Park (AIIP) project.
He said that the company behind the project is HSI Engineering and they are committed to birthing the project before the end of this year.
“They have done their front end Engineering designs, they have executed the crude oil supply and purchase agreement, amongst others, to underscore their very serious intentions to partner with the state government to birth the project,” the commissioner said.
In his own contribution the state commissioner for Petroleum and Solid Mineral resources, Professor Joel Ogbonna, who joined the commissioner for information at the press briefing said that the state wants to take advantage of the resources to be able to take advantage of the resource to be able to develop fertilizer companies, Petrol- chemical, Modular Refineries and such other sectors.
“By 31st December 2024, we commenced payment of compensation to those who signed the indemnity certificate.
“So we are now ready for real business; that is why you heard that a company, HSI Refine, and Petrol-Chemical, one of the companies that want to establish a modular refinery, has done a due process and has taken advantage of what we did to do that, “Professor Ogbonna said.
