…to flag off medical city project
The Abia State Government has said that it is set to boost the State’s oil production capacity through partnership with Petroleum Technology Association of Nigeria (PETAN).
Consequently, the State Government said it has an SPV with 40% equity, PETAN with 25%, while the remaining 35% is reserved for private investors.
Okey Kanu, Commissioner for Information stated this while briefing journalists on the outcome of the State Executive Council meeting presided over by Alex Otti, the governor. He said that the move would help the State Government activate its capped wells to be slightly above 100 wells.
“When fully operational, this would enable the State Government to produce both gas and oil, which of course, would support the Abia Industrial Innovation Park (AIIP) project” Kanu stated.
Read also: Abia to rehabilitate 948 healthcare centres
He noted that the Modular Refinery Project being constructed at Abia Industrial Innovation Park was very much on course.
“The company behind the project HSI Engineering is committed to birthing that project before the end of this year. They have made some progress in this regard. They have recorded some milestones that speak of their intention to commence full refining business this year” Kanu said.
Joel Ogbonna, a Professor and Commissioner for Petroleum and Mineral Resources, said the State Government wanted to take advantage of that rich source of oil in the STate to develop the State’s Economy, adding that the State Government had commenced payment of compensation for the land in Owaza, Ukwa West LGA for the Abia State Industrial Innovation Park.
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