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Nigerian, British firms sign pact on bitumen project
TEN indigenous companies which formed BEECON Nigeria Limited have signed a technical service agreement with a United Kingdom (U.K.) firm on the commercial exploitation of bitumen in Nigeria.
The pact has a five-year life-span, during which Technique Links Limited will provide the technical expertise and equipment to BEECON to explore and exploit bitumen in Ondo State. Bitumen exists in commercial quantity in some South-West and South-South states.
With the accord, BEECON is optimistic that it will meet the December 2004 deadline given it by the Federal Government to begin the processing of bitumen or forfeit its operating licence.
Representatives of all the companies in BEECON Group, officials of the Federal Government and the U.K. firm signed the working agreement in Akure, the Ondo State capital, at the weekend.
Already, the consortium has started the mandatory Environmental Impact Assessment (EIA) of Block 307 B, which it is licensed by the government to operate.
The terms of the pact showed that Technique Links, a subsidiary of Merpo Limited of Scotland, U.K., will provide technical assistance and procure equipment for BEECO's operations in Nigeria.
The ceremony was attended by the secretary of the Bitumen Project Implementation Committee (BPIC), Mr. Sheikh Goni, who stood for the Federal Government.
BEECON chairman, Dr. Dare Akala, described the event as a milestone in Nigeria's quest for bitumen exploration.
The technical partners, according to him, "are already into process engineering, procurement and construction, servicing the solid minerals and petroleum industries.
"Technique Links Limited is expected to bring its wealth of experience and expertise to bear on the project, and marketing of the bitumen products."
The signing of the agreement, according to him, was the result of discussions and exchange of information in several fora between the local companies and their UK partners in both Nigeria and England in the last six months.
Akala said that the development had prepared the consortium "not only to meet the expectations of the government, but also to facilitate the development of bitumen in Block 307B to reduce the country's reliance on imported bitumen products.
The Managing Director of Technique Links, Mr. Stan Caza, who signed for the technical partners, expressed optimism that the bitumen sector would provide the needed succour for the Nigerian economy.
He said his firm has the technical expertise to develop the bitumen sector having been on the field of solid mineral development for decades.
On his part, Goni said the stage had been set for the commercial exploitation of bitumen in Nigeria.
"One of the major problems faced by BEECON was the search for a competent technical partner. With this agreement, everything is now set for them to commence operation," Goni added.
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