Project Today reported that ONGC Mittal Energy Ltd has received approval from the Nigerian National Petroleum Corporation for setting up a refinery in Nigeria. OMEL is a JV between Mittal Investments Sarl and ONGC Videsh.

As per report OMEL is planning to set up 180,000 BPD refinery a 2,000 MW power plant and a railway line connecting eastern and western Nigeria. In 2005, the JV had secure rights to explore OPL 279 and OPL 285 blocks after committing to invest USD 6 billion in Nigeria. OMEL has already carried out a pre-feasibility study for the refinery project.

OPL 279 is a deepwater offshore exploration block wherein OMEL through its wholly owned subsidiary OMEL Exploration & Production Nigeria Ltd holds 45.5% stake and operator ship of the block. The other partners in the block are EMO, Nigeria with 40% stake and TOTAL with 14.5 per cent stake.

OMEL, through its subsidiary ONEL holds 64.33% stake and operator ship in the other OPL-285 deepwater block. In this block, the other partners are EMO which holds 10% and TOTAL has 25.67% interest.

(Sourced from Project Today)