Souheil Abboud, the Managing Director of VFuels, has proposed the establishment of many modular refineries across to permanently solve the intractable problem of petroleum products scarcity.
VFuels, is an Original Equipment Manufacturer, OEM for the oil and Gas industry. Modular refineries are small refineries which produce around 1,000 to 60 barrel of oil per day.
Abboud who commended the Department of Petroleum Resources, DPR for spearheading the campaign for investment in modular refineries made the proposal in Lagos during an interaction with newsmen
Speaking on the efforts of the DPR in wooing serious investors for the scheme, Abboud said, “It is a serious commitment to decentralization of refineries in Nigeria.
“ In other words, there will be more refineries all over the country to be able cater for local needs and create jobs”.
When asked to give an estimate of what would be required to set up a typical modular refinery, the Vfuels boss whose in-depth knowledge of the oil and gas industry is not in dispute explained that an actual overall costs would be difficult to ascertain because of site peculiarities.
“ The site will determine the cumulative cost of the modular refinery . But if you are taking about the process unit, that is easy to estimate. Give and take it can cost between $8,000 and $40,000 depending on the capacity. That is for the process unit itself not the total project cost. A topping plant modular system can refine between 1,000 to 60,000 barrel per day.
