The Ministry of Mines and Hydrocarbons, supported by its strategic partner Marathon Oil Corp., has awarded North American Company VFuels Oil & Gas Engineering (VFuels) the feasibility study for the construction of a modular refinery in Punta Europa, Malabo.
VFuels, which turned out to be the winner of the tender, will be in charge of the feasibility study that will include the engineering and design of a 5,000 bpd modular refinery to supply refined products for domestic consumption. The study is expected to be delivered within 12 weeks of the contract’s signature.
This project is part of the initiative of the Year of Investment 2020 promoted by the Ministry of Mines and Hydrocarbons, 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.
“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,” stated H.E. Gabriel Mbaga Obiang Lima, Minister of Mines and
Hydrocarbons. “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,” added Minister Obiang Lima.
The award notably follows a meeting in January
between H.E. President Obiang Nguema Mbasogo, H.E. Gabriel Mbaga Obiang Lima,
Marathon Oil Chairman, President and CEO Lee Tillman and Executive Vice
President Mitch Little during which Marathon Oil reiterated its commitment to
Equatorial Guinea and towards the development of the country’s Gas Mega Hub.
Marathon Oil 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.
VFuels is a full service oil and gas engineering, design, and fabrication firm that specializes in modular process equipment. VFuels designs and fabricates modular refineries and gas plants using its experience and expertise in modular construction. Its modular process equipment is manufactured in controlled conditions in Houston, Texas, fully assembled and tested prior to overseas or domestic shipment, and installed at each client’s site in much less time than traditional construction requires.
