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The Odebrecht Group Company Will Begin Construction of the Oil Refinery in Angola Between April and May
Odebrecht announced this week that it will build a new oil refinery in Angola. The chosen company to carry out the works is OEC, which operates in the engineering and construction sector of the Odebrecht group. The oil refinery will be built in the province of Cabinda, located about 30 km north of Luanda, the capital of Angola. The contract value is estimated at US$ 920 million, and the installation works are expected to start between April and May of this year (2021).
See Also
Capacity of the Oil Refinery in Angola
The total capacity of Odebrecht’s oil refinery will process around 60,000 barrels of crude oil per day, which will yield gasoline, diesel, aviation fuel, kerosene, and also fuel oil.
The main focus of this investment is to reduce Angola’s dependence on imported refined products as much as possible, as well as to boost the country’s exports in the oil production sector.
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Overall, the project is divided into three phases, with the first phase estimated at US$ 220 million, as it involves increasing refining capacity, with a forecast of producing around 30,000 barrels per day. Initial operation tests are expected to begin in the first quarter of 2022. In the next phase, the increase in the production of barrels of oil per day will be evaluated.
The contract signed between Cabinda Oil and OEC on Friday (12) seals the commitment that they will now have. Details about the work will be announced as soon as the complete contract analysis and final signing are done. An average of 2,000 direct and indirect jobs will be generated.
Statistics
Angola is one of the largest producers of crude oil in Africa, ranking just behind Nigeria. In 2018, the volume was 3.5 million tons of refined products consumed. 80% of the products were imported, with 65% coming from China.
Submit Your Resume to the Odebrecht Group
To register your resume and stay updated on job openings in companies that are part of the Odebrecht group, simply Click this link. You will be redirected to a page where you will find the main companies of the Odebrecht Group, including OEC.
Odebrecht Group’s Vision for the Contract
According to Odebrecht, the contract closed between OEC and Cabinda Oil is essential to boost its project sector, as there was a significant decline when the group was implicated in the Lava Jato operation by the Federal Police between 2014 and 2015, impacting OEC’s operations in Brazil, Latin America, and Africa. The expectation is that this new project will bring better visibility to the controlling group.
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