ND Refineries Ltd

pending

Niger Delta Exploration & Production PLC (NDEP) is an indigenous Nigerian Oil & Gas company formed in 1992. In August 2000 its wholly owned subsidiary, Niger Delta Petroleum Resources Ltd (NDPR), acquired the Ogbele Marginal oil field (OML 54) located in Rivers State, Nigeria. Following the acquisition, the company developed an oil and gas processing plant with first production occurring in 2005. NDPR subsequently developed a mini refinery in 2010 with a capacity of 1,000 barrels of oil/ day (bopd), located within an area of approximately 50 m x 50 m within the boundaries of existing processing plant. In 2017, a new subsidiary ND Refineries Limited (“NDRe” or the “company”) was created to house all mini refinery assets.IFC’s financing is seeking to support NDRe in its expansion of the existing 1,000 bopd mini refinery (train 1) with two simple stage modular refining trains (trains 2 and 3), both of which have a capacity of 5,000 bopd per train (the “project”). The second train is complete and will be commissioned by end of 2019 with the third under construction. The NDRe refinery expansion has been undertaken utilizing modular refinery design, with the required equipment for the refinery having been designed, fabricated and assembled in the USA on skids and shipped to the NDRe site for inter-skid installation. Once completed, the mini refinery trains will process light crude sourced from the NDPR Ogbele asset at a capacity of 11,000 bopd broadening the NDRe current product portfolio from diesel to include gasoline, marine diesel, dual purpose kerosene, naphtha and heavy fuel oil.The NDRe trains are located within the existing NDPR processing plant boundaries. The two closest residential communities are located approximately 2 kms and 3kms from the site respectively. There are no communities or settlements along the ~4.6km access road connecting the processing plant to the main highway.