Onose Deep Oil and Gas Limited on Friday, announced that after much agitations by investors it has finally reached an agreement with foreign and local financial and technical partners to build a modular crude oil refinery at Ellu community in Delta State, Nigeria.

The company in a statement issued by its Executive Secretary, Jim Elueni, the foreign partners include United States of America-based modular plant manufacturer which will be responsible for the project’s ISBL aspects and also Financial Bridge, USA, which will provide finance and coordinate the project.

Elueni added that the local partner, Rainbow Network Global Synergy Ltd, will be responsible for civil engineering works.

The aim of the modular refinery project is to create employment for Nigerians and resolve the current fuel crisis in the country caused by the incessant damages to pipelines which delivers products to different facilities, Vanguard news reports.

Attacks on facilities by militants have affected the oil and gas sector and this might result in the scarcity of petrol in some places across the country.

These attacks mostly organized by the Niger Delta Avengers in the Niger Delta region have also affected Nigeria’s oil exports.

According to the Minister of State for Petroleum, Emmanuel Kachikwu, in spite of these production shortages, Nigeria’s crude exports are expected to rise to 2.2 million bpd in August from the current 1.9 million bpd, even though the Avengers have resumed their attacks before the end of a 30-day ceasefire.

Anita Fatunji