On Tuesday, GE Power Services announced that it had signed a multiyear service agreement to strengthen power supply to the Port Harcourt Refining Company – a wholly owned subsidiary of the Nigerian National Petroleum Corporation.
The 12-year agreement was signed with GEL Utility (GELUL) a joint subsidiary of Engro Corporation of Pakistan and Genesis Power & Energy Solutions.
The agreement will include the provision of parts, spares, repairs and services over two major inspection cycles for three units of GE’s TM2500 aeroderivative gas turbines which were installed at the plant site in March 2015.
“We are pleased with the unique transaction experience with GE which will help our esteemed customer, the Nigerian National Petroleum Corporation, to accomplish the scheduled outages of our assets at the Port Harcourt Refining Company, while also increasing significantly our savings in maintenance throughout the duration of the agreement,” said Akinwole Omoboriowo II, Chairman, Genesis Energy Holding.
Through the agreement, the state-owned refinery is expected to receive an uninterrupted power supply.
Narendra Asnani, Executive Sales Director for GE Power Services, sub-Saharan Africa said: “As oil prices are a determinant of the country’s growth pattern; this service agreement is crucial to help improve power supply for the constant production of one of the nation’s leading facilities.”
This follows GE’s announcement last month that it would invest over $200 million in the aeroderivative business over the next three years.