Angolan national oil company Sonangol and Gemcorp Capital LLP on Thursday in Luanda signed a partnership for the construction of the Cabinda refinery, which will have the capacity to process 60,000 barrels of oil per day, said the Angolan state company.
The statement added that the construction of the refinery, in the locality of Malembo, will be split into three phases, due to the delays the project has seen, and the first phase is due for completion in 2021, when 30,000 barrels of diesel and petrol will start being produced.
The second phase will process another 30,000 barrels, while the third phase of the project will focus on improving the production specifications of the main products, including gasoline, diesel, Jet A1, PLG, kerosene and fuel oil.
The construction of the refinery was initially awarded to the United Shine consortium but at the beginning of December 2019 Sonangol announced it had terminated the contract signed due to “failure of agreed actions” and not guaranteeing financing to ensure the execution of the work.
In the same statement, Sonangol announced that on 30 October 2019 it had signed a memorandum of understanding with the Gemcorp Capital LLP, for the financing and implementation of the project, ensuring the completion within the agreed deadlines, with secured financing. (macauhub)