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 Synterra have embarked on a pre-feasibility study on the establishment of a modular refinery. We have worked with a number of companies that have acquired Licenses to Establish (LTE) modular refineries in Nigeria from the Ministry of Petroleum Resources


 Synterra Energy has evaluated the feasibility of establishing a modular refinery in Nigeria and concluded that in the event of the alignment of a number of financial, political and macro economic factors, such a project would provide a sustainable investment with yields that would achieve our investment criteria for investment into project finance and infrastructural projects.


 Synterra have obtained the option of acquiring a modular refinery with a production capacity of 6,000 bpd. The Refinery became available after the original project sponsor went into receivership as a consequence of their inability to raise funding to complete the purchase of the equipment.


 Synterra have held negotiations with the National Local Content Management Board, (NLCMB)the agency of government set up as an act of parliament to monitor and enforce compliance with local content legislation. The Agency levy a 1% tax on all oil and gas transactions and are directed to use these proceeds in the support of local content and indigenous participation in Nigeria.



As a consequence of the negotiations they have agreed to provide equity funding  to establish a modular refinery subject to Synterra raising the debt component of the capital structure. They are prepared to provide 30% (thirty) of the required equity.

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