The refinery, which aims to reduce the country's dependence on imported refined products, is expected to supply around 10 percent of domestic demand for these, providing a local source of essential fuels.
"Cabinda will be the first refinery in Angola built after the country's independence in 1975. Despite being one of the main oil producers in Africa, Angola imports a substantial part of the refined products it consumes. This project will not only improve self-sufficiency energy sector in the country, as it is already creating jobs and strengthening the local economy", highlighted Felipe Berliner, Gemcorp Group Chief Investment Officer. Remember that 95 percent of the refinery's workforce will be hired locally.
Cabinda will also be Africa's first non-gas burning refinery, capturing gas and converting it into natural gas liquids (NGLs).
The modular construction of the refinery is also an innovation, as it reduces construction risks and minimizes delays in financing. "This phased approach has been advantageous, allowing us to develop a documented base of local capabilities and an efficient supply chain, with which we are achieving results in line with the project closure prospects", stated Marcelo Hofke, CEO of Cabinda Oil Refinery.
After commissioning of Phase I, Gemcrop intends to immediately begin work on the next phase, which includes the installation of a reformer for gasoline production, as well as the increase in solar photovoltaic energy capacity and local storage. The third phase aims to increase diesel production in the country.
The Cabinda refinery is Gemcorp's second refining project in Africa, following an investment made in Liberia. In addition to refining, Gemcorp has investments in other areas of energy and natural resources in Africa, including Milele Energy, an independent energy producer based in Nairobi and the main shareholder in Africa's largest wind farm at Lake Turkana in Kenya. It also has Walkabout Resources, which is developing a Lindi Jumbo graphite project in Tanzania.
Still in the field of energy, Gemcorp signed, last May, a memorandum of understanding with the Ministry of Energy and Water of Angola and with the National Electricity Transmission Network (RNT) to expand the current capacity of the Capanda Hydroelectric Plant, on the Kwanza River.
