By Peace Udugba
Waltersmith Petroman Oil Limited has showcased its expanded modular refinery at Ohaji-Egbema, Imo State, to the Nigerian Content Development and Monitoring Board (NCDMB) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), while unveiling plans for a major condensate refinery and industrial park.
The Executive Secretary of NCDMB, Engr. Felix Omatsola Ogbe, alongside the Authority Chief Executive of NMDPRA, Mr. Farouk Ahmed (represented in the visit), inspected the facility following its expansion from 5,000 barrels per day (bpd) to 10,000 bpd.
The expansion, which builds on NCDMB’s initial equity investment in the project in 2018, marks a significant milestone in the development of Nigeria’s modular refining capacity. The first phase of the refinery was commissioned in November 2020, while the latest expansion is now completed and fully operational.
The refinery currently produces Automotive Gas Oil (diesel), Household Kerosene (HHK), Heavy Fuel Oil (HFO), and Naphtha, supplying markets across the South-East, South-South, and parts of West Africa. According to the company, over 1.1 billion litres of refined products have been delivered since operations began, strengthening regional energy security and contributing to economic growth.
Representing the Executive Secretary of NCDMB, the Director of Legal Services, Dr. Naboth Onyesoh, commended Waltersmith for its role in advancing local content development. He described the company as a model for job creation, import substitution, capital retention, and value addition in the oil and gas sector.
Chairman of Waltersmith Petroman, Mr. Abdulrazaq Isa, said the visit provided an opportunity to showcase the expanded facility and outline the company’s next phase of growth. He noted that Waltersmith has evolved from operating a single oil field to acquiring stakes in multiple assets, including Renaissance Africa Energy Ltd, which recently acquired Shell Petroleum Development Company of Nigeria (SPDC) assets.
Isa announced plans for a second phase of expansion, which includes the development of a 30,000bpd condensate refinery and an industrial park designed to host gas-based industries. He added that the project will be supported by a 100 million standard cubic feet per day (mmscfd) gas pipeline and embedded captive power generation to encourage industrial co-location.
He further disclosed that the company is targeting the conclusion of partnership agreements for the condensate refinery by the fourth quarter of 2026, with feedstock expected from the Ibigwe and Assa fields, as well as nearby assets.
According to him, the expansion into petrochemicals will leverage gas and naphtha availability to drive industrial growth, describing the sector as a key enabler of Nigeria’s economic transformation. He also sought regulatory approvals from NMDPRA for the next stages of development.
The NMDPRA Chief Executive expressed satisfaction with the progress of the refinery, describing it as a landmark project in Nigeria’s midstream sector. He pledged the agency’s continued support for Waltersmith’s expansion plans.
He further noted that the midstream sector remains central to Nigeria’s economic development and commended Waltersmith for its contribution, describing the company as a “major player” in the industry. He also urged the firm to accelerate work on the proposed condensate refinery.
NCDMB also praised the collaboration with Waltersmith, noting that the partnership has resulted in one of the country’s most successful modular refinery projects.
