Brass Fertilizer & Petrochemical Company Signs Methanol Offtake Agreement With BP Oil International

London, United Kingdom, December 22, 2016 (Newswire.com) - Brass Fertilizer & Petrochemical Company Limited (BFPCL), a Nigerian urea & methanol manufacturer based on Brass Island in Bayelsa State, is pleased to announce that it has entered into an agreement with BP Oil International Limited (UK) to be the exclusive offtaker for methanol being produced at the plant for a period of 10 years. The offtake contract is valued in excess of USD 6 billion when the plant commences commercial operation in 2020.

Mr. Ben Okoye, Executive Vice Chairman of BFPCL announced that the signing of the offtake contract signifies a major milestone in the development of the project, which is expected to produce 1.66 million MT of methanol and 1.3 million MT of urea per annum. The project represents a major boost in the manufacturing sector in Nigeria where implementation of gas-based projects has been far below Nigeria’s potential.

The project represents a major boost in the manufacturing sector in Nigeria where implementation of gas-based projects has been far below Nigeria's potential.

Taylor-DeJongh is the lead financial advisor for the project.

Media Contact: 
Sanjay Patel 
[email protected]

Source: Brass Fertilizer & Petrochemical Company