Keta Oil Refinery

KETA ULTRA-MODERN OIL REFINERY

(KORPC – Keta Onshore Refinery & Petrochemical Complex)

Strategic Development Pack – From Zero to First Oil

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1. PROJECT IDENTITY

Project Name:

Keta Onshore Refinery & Petrochemical Complex (KORPC)

Location:

Keta Port City, Volta Region, Ghana

Connected to: Keta–Volta Onshore Oil Basin

Project Type:

Integrated:

• Crude Oil Refinery

• Petrochemical Industrial Park

• Export Energy Hub

• Strategic National Infrastructure

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2. STRATEGIC JUSTIFICATION (WHY THIS PROJECT IS INEVITABLE)

National Level:

• Ghana imports over 60–70% of refined fuels

• Loses billions USD annually in FX

• TOR is under-capacity and outdated

• No eastern coastal mega-refinery

Regional Level:

Serves:

• Ghana

• Togo

• Benin

• Burkina Faso

• Niger

• Northern Nigeria

Geopolitical Level:

• Energy sovereignty

• Reduced fuel price shocks

• Strategic Gulf of Guinea hub

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3. REFINERY CONFIGURATION (CORE TECHNICAL DESIGN)

Phase 1 – Core Refinery

Capacity: 150,000 barrels/day (scalable to 300,000)

Processing Units:

Unit Purpose

CDU/VDU Atmospheric & vacuum distillation

Hydrocracker Convert heavy fractions

Delayed Coker Maximize light fuels

Naphtha Reformer Petrochemical feedstock

Desulfurization IMO 2020 compliance

Hydrogen Plant Clean processing

Sulfur Recovery Environmental control

Products:

• PMS (Petrol)

• AGO (Diesel)

• ATK (Aviation fuel)

• LPG

• Bitumen

• Naphtha

• Petrochemical feedstock

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4. PETROCHEMICAL INDUSTRIAL PARK

Located adjacent to refinery:

Phase 2 Industries:

• Polyethylene (PE)

• Polypropylene (PP)

• Methanol

• Fertilizer (Urea/Ammonia)

• Lubricants

• Plastics manufacturing

• Synthetic rubber

This alone creates:

A whole new industrial economy in Volta Region

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5. PORT & LOGISTICS MEGA INFRASTRUCTURE

Keta Energy Port Components:

• Deep sea crude terminal

• Product export jetties

• LNG/LPG terminal

• Tank farms (10–15 million barrels)

• Pipeline corridors inland

• Rail + highway energy corridor

Keta becomes:

The Rotterdam of West Africa (East Corridor)

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6. FINANCIAL STRUCTURE (BANKABLE)

Capital Cost (150k bpd):

Item Cost

FEED & Studies $100M

Port & Marine Works $600M

Refinery EPC $3.2B

Power & Utilities $450M

Tank Farms $350M

Environmental Systems $200M

Contingency $400M

TOTAL ~$5.3 Billion USD

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7. REVENUE MODEL

Annual Revenue Estimate:

150,000 bpd × $15 refining margin × 365 days

≈ $820 million – $1.2 billion net per year

Plus:

• Petrochemicals: $500M+/year

• Port fees & exports

• Carbon credits

• Power sales

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8. FINANCING MODEL (REAL WORLD)

Ownership Structure:

Stakeholder Share

Ghana Gov / GNPC 20%

Strategic Oil Major 30%

Sovereign Funds 20%

Development Banks 15%

Private Investors 15%

Funding Sources:

• AfDB

• World Bank

• AIIB

• Islamic Development Bank

• EXIM Banks (China, Korea, UAE)

• Saudi PIF / Qatar QIA / Abu Dhabi ADIA

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9. LEGAL & REGULATORY PATH (GHANA)

Key Institutions:

• Ministry of Energy

• GNPC

• National Petroleum Authority

• EPA Ghana

• Ghana Ports Authority

• Lands Commission

Required:

• EIA / SIA

• Petroleum agreements

• Investment incentives

• Port concession

• Tax stabilization agreement

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10. ENVIRONMENTAL & GREEN DESIGN

This refinery is not old oil — it is next-gen clean oil:

Green Features:

• Zero routine flaring

• Sulfur recovery >99.9%

• Closed-loop water recycling

• Solar + gas hybrid power

• Carbon capture readiness

• Mangrove restoration

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11. WORKFORCE & NATIONAL IMPACT

Direct Jobs:

• 3,000–5,000 construction

• 1,500 permanent engineers

Indirect Jobs:

• 50,000+ in logistics, industry, services

Skills Transfer:

• Ghana becomes energy technology nation

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12. DIGITAL & AI REFINERY

Smart refinery from day one:

• Digital twin refinery

• AI predictive maintenance

• Drone inspections

• Cybersecurity command center

• Blockchain crude tracking

• Automated trading systems

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13. TIMELINE (REALISTIC)

Phase Duration

National approval 3–6 months

Pre-FEED & EIA 6–9 months

FEED 9–12 months

Financial close 6 months

EPC construction 30–36 months

Commissioning 4 months

Total: 4 – 5 years

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14. RISK MATRIX (INVESTOR GRADE)

Risk Control

Crude supply Long-term PSC

Price volatility Hedging

Political risk Sovereign guarantees

Environmental World Bank standards

Cost overrun Fixed EPC

FX risk USD revenue

⸻West African Surgeons

15. NATIONAL TRANSFORMATION EFFECT

Keta becomes:

• Energy capital of Eastern Ghana

• Industrial megacity

• Export powerhouse

• Skilled workforce hub

• New African Singapore