Name and Location
Oilmoz refinery project, Matutuine district, Mozambique.

Project Description
The proposed project will see the construction of a refinery capable of producing 350 000 bbl/d of refined fuel, and will include a petrochemicals plant, a 500 MW gas-powered power station, a waste disposal plant, an effluent disposal plant, a tank farm, a handling terminal and accommodation for staff.

Value
The refinery is estimated to cost $8-billion. Funding will come from a consortium of banks.

Duration
Construction on the refinery was initially scheduled to start in late 2009; however, it is now expected to start in the second quarter of 2011 and be completed in 2015.

Client
Oilmoz.
State-run oil company Petróleos de Moçambique will own a stake in the plant; however, the exact shareholding structure has not been decided.

Key Contracts and Suppliers
Shell Global Solutions (configuration and feasibility study, and basis of design).

Latest Developments
In 2010, Oilmoz reported that it expects to secure funding for its planned refinery before the end of the year.

CEO Fausto de Oliveira Cruz reported that an agreement for funding was planned, with potential investors coming from Europe. Cruz explained that these potential investors were looking for a range of options, including an equity stake in the refinery.

It was also reported that Shell’s affiliate, Stasco, will procure 50% of the refinery’s total output, with only 15% of the oil to be distributed locally.

On Budget and on Time?
Not stated.

Contact Details for Project Information
Oilmoz CEO Fausto de Oliveira Cruz, tel +258 21 48 4000, fax +258 21 48 4001, cell +258 84 732 8604 or email fc@oilmoz.com.