Recent explorations have indicated that Sierra Leone could become a major exporter of oil and gas in the near future, making the energy sector a key area of growth.
The government is actively seeking a strategic partner with extensive experience in operations and management to rehabilitate and expand the moribund Sierra Leone Petroleum Refining Company (SLPRC).
Established in 1970 as a joint venture with major international oil companies, SLPRC ceased production ten years ago. However, the site has attracted significant interest based on its proximity to an operational oil jetty and the existing infrastructure.
The refinery had the capacity to produce 450 000 tonnes of crude oil per year. The refined products included premium motor spirit, domestic purpose kerosene, aviation turbine kerosene, automotive gas oil, bunker gas oil, fuel oil, bunker fuel oil, lead-free naphtha, liquid petroleum gas, marine diesel oil, and special distillate.
When rehabilitated, the refinery would be exceptionally well positioned to capitalize on the discovery of an exploitable hydrocarbon resource off the coast of Sierra Leone.
Interested investors will benefit from the following;
• Location: Sierra Leone is uniquely positioned to supply markets in US, Europe and the rest of Africa. The project is close to a sheltered deepwater harbour and international shipping lanes.
• Stock: Potential investors would have access to multiple oil producers in the Gulf of Guinea and South America, and possibly in Sierra Leone. Recent hydrocarbon discovery by petroleum company Anadarko in offshore Venus prospect indicate the likelihood of major oilfields in the country.
• The US and other nations provide a guaranteed market because they are encouraging the exploitation of oil resources in West Africa, with a view of reducing dependence on supplies from the Middle East.
Source: TradeInvestAfrica Image: constructionweekonline