SUBSIDIARY NAME
MARRON BRASS PETROLEUM REFINING COMPANY LIMITED
COUNTRY
NIGERIA
SECTOR/ INDUSTRY
ENERGY
OWNERSHIP %
70% IIB-DG
ACQUISITION DATE
APR 13, 2022
ACQUISITION VALUATION
2.5 BILLION USD
TOTAL ASSET VALUATION
25 BILLION USD
REAL ESTATE
MARRON BRASS REFINERY: The facility will utilize oil for the production of various petroleum products. The operation will be basically an export-oriented swing process and will be operating from a free zone enclave. The refinery will be located on a 2, 086-acre plot of land acquired for this purpose at the village of Mbikri, Brass, Bayelsa State. The plant, machines, and equipment will be provided on a turnkey basis and the manufacturer has already been identified. Other components of the plant include buildings and structures, custom-made furniture and office equipment, laboratory, control, and electrical system will be acquired. MARRON BRASS REFINERY involves the design, acquisition, importation and installation of a Processing plant for the green refinery of 200,000 barrels of crude oil per day , estimated at an amount of $2.8 Billion.