NNPC Ltd has signed a Memorandum of Understanding (MoU) with two Chinese firms Sanjiang Chemical Company Limited and Xingcheng (Fuzhou) Industrial Park Operation and Management Co. Ltd—to explore a potential Technical Equity Partnership (TEP) aimed at completing and restarting operations at the Port Harcourt and Warri refineries.
The agreement was signed in China by the Group Chief Executive Officer of NNPC Ltd, Bashir Bayo Ojulari, alongside the Chairman of Sanjiang Chemical Company, Guan Jianzhong, and Chairman of Xingcheng (Fuzhou) Industrial Park Operation and Management Co. Ltd, Bill Bi.
According to a statement issued by Andy Odeh, Chief Corporate Communications Officer of NNPC Ltd, the proposed framework will support the completion of outstanding rehabilitation works at both refineries, as well as their operation and maintenance to ensure efficient and sustainable performance.
The collaboration is also expected to include planned upgrades and expansion of the facilities to enable cleaner production processes and improved profitability. In addition, the partnership will explore opportunities to expand petrochemical capacity and develop gas-based industrial hubs linked to the refinery complexes.
Ojulari described the signing of the MoU as a significant milestone, following more than six months of engagement between technical and management teams from NNPC Ltd and the Chinese partners.
He noted that the agreement marks an important step toward identifying potential technical equity partners for the restart and expansion of Nigeria’s refineries, while also unlocking broader downstream and petrochemical investment opportunities.
The MoU, according to both parties, reflects a shared intention to proceed with discussions in good faith, with more definitive agreements expected in due course.
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