The Vice President of China Machinery Engineering Corporation, Mr Jin Chunsheng visits Southfield Petroleum Limited in Nigeria.
Southfield Petroleum executes a Commercial Contract of $198Million with China Machinery Engineering Corporation (CMEC). The Contract was executed during a visit by the Vice President of China Machinery Engineering Corporation , Mr. Jin Shunsheng to Southfield Petroleum Limited in Nigeria. China Machinery Engineering Corporation was received in Abuja by the Southfield Petroleum team led by the Managing Director, Dr Patrick Ndiomu. The CMEC team also used the opportunity of their meeting with Southfield Petroleum to pay courtesy visits to the Honourable Minister of Petroleum Dr Ibe Kachikwu and the Group Executive Director, Upstream of NNPC, Alh Bello B. Rabiu. The company has commenced the development of its $250Million Flagship Project. The EPC contract which was executed between CMEC and Southfield Petroleum Limited provided for the supply of a 250mmscfd Mechnanical refridgeration Gas Processing Equipment and the construction of facilities such as a captive Jetty, 24MW Captive Power, a 14,000MT LPG Storage, 3,000MT LPG Barge, Office Buildings ,infrastructure ,the construction of an Amine Unit to extract the Carbon Dioxide from the gas and a robust training programme for Nigerians.
The project will be funded by long term export finance provided by the Industrial and Commercial Bank of China (ICBC), the bankers of CMEC.
CMEC is a Chinese Engineering Company which has extensive competency in Engineering, Procurement and Construction services. CMEC is listed on the Hong Kong Stock Exchange (Stock Code: 1829.HK) and has executed several contracts in Africa including the construction of the Phase 1&2 of the Olorunsogo Power Plant in Ondo State, Nigeria. China Machinery Engineering Corporation (CMEC) is a wholly owned subsidiary of China National Machinery Industry Corporation (Sinomach) group of companies. Sinomach is owned by the Chinese Government and is one of the largest engineering construction companies in the world. The events was also covered online by the Reuters , CMEC Beijing, Guardian Newspaper, Business Day Newspaper amongst others.