Nigerian National Petroleum Corporation (NNPC) has signed a Memorandum of Understanding (MoU) with Genesis Electricity Limited to bolster power supply to one of its refineries, the Port Harcourt Refining Company (PHRC) in order to strengthen its production capacity.
According to a statement from the acting Group General Manager, Public Affairs of the Corporation, Mr. Fidel Pepple, the Group Managing Director of NNPC, Mr. Andrew Yakubu, was quoted to have said at the signing ceremony that the MoU would give PHRC a new lease of life and curb unstable power supply to the facility. While applauding the Federal Government for its commitment in addressing the power situation in PHRC, Yakubu assured government of its readiness to meet the ambitious target given to the corporation in the petroleum sector.
Yakubu expressed optimism that such new model with the company would help the Corporation re-evaluate how to address power and utility challenges to the oil installations of the NNPC. According to him: “We hope that this arrangement will be a win-win situation and it will be a test case that will add value to our installations.” On his own part, the Chief Executive Officer (CEO) of Genesis Electricity Ltd, Mr. Akinwole Omoboriowo, assured the management of the NNPC of its preparedness to deploy the best power technology in the world to PHRC and provide qualitative electric power supply to the plant.