Equatorial Guinea Ministry of Mines and Hydrocarbons, supported by its strategic partner, Marathon Oil Corporation, has awarded North American company, VFuels Oil & Gas Engineering, the feasibility study for the construction of a modular refinery in Punta Europa, Malabo.
General Director, State Entities and Assets, MMH, Oscar Berniko, stated on Thursday that VFuels, which won the tender, would be in charge of the feasibility study that would include the engineering and design of a 5,000bpd modular refinery to supply refined products for domestic consumption.
The study is expected to be delivered within 12 weeks of the contract’s signature.
The project is part of the initiative of the Year of Investment 2020 promoted by the MMH, which is seeking investments for a modular refinery in the continental region, storage tanks and the promotion of other projects derived from methanol, among others.
Equatorial Guinea Minister of Mines and Hydrocarbons, Gabriel Lima, said, “This is an important step when it comes to implementing this project with an important goal to prevent stock outs, and provide refined products of higher quality to economic operators and the general public.
His words, “The experience and track record of VFuels in engineering and design of modular refineries at an international level, could be beneficial to this project and Equatorial Guinea.”
The award followed a meeting in January between President of Equatorial Guinea, Obiang Mbasogo; Marathon Oil Chairman, President and Chief Executive Officer, Lee Tillman; Executive Vice President, Mitch Little; and Lima during which Marathon Oil reiterated its commitment towards the development of the country’s gas mega hub.
Marathon had then declared its support to construct a modular refinery in Punta Europa by undertaking a conceptual study on the ministry’s behalf. Both parties had also agreed to immediately commence feasibility studies related to methanol to gasoline and other methanol derivatives, in coordination with the Ministry of Mines and Hydrocarbons.