Cameroon: Government Inks Deal for New Refinery
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Friday, 26 October 2012 |
Cameroon’s Government has announced that it has signed a MoU with US firm International Refinery Consultants (IRC) with a view to establishing a second facility in the country. IRC has been mandated to conduct extensive studies for the construction of a modern high capacity oil refinery in the city of Kribi.
Cameroon has just one refinery at present, the Sonara refinery. The new facility, to be named Cameroon Atlantic Refinery Project, will initially process 200,000 bpd and could be expanded to 350,000 bpd in the future. While it will be export orientated, the facility will be geared to meet domestic needs when the Sonara refinery is down for maintenance or upgrades.
IRC will provide finance for the project in collaboration with Refinery Technology under a Build, Own, Operate and Transfer (BOOT) agreement. The overall cost of the project – which also includes housing estates, a hospital, schools, an orphanage, recreational facilities, and a training centre for local engineers and technical personnel – was not disclosed.
PetrolWorld 25102012
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