Monday, April 22, 2013

Johannesburg, South Africa, Harare, Zimbabwe, Vienna, Austria, Tokyo, Japan – April 22, 2013 – African Compass International Limited (“ACI” or the “Company”) and ILDAGO International Group of Companies Limited (IIGL), today announced the signing of a strategic 50-50 JV partnership for the continued development to establish ultra-modern oil projects dedicated for export with swing characteristics of dual refineries capable of minimum 200,000 and maximum 400,000 bpd capacity on the Mumford and Saltpond coastlines of Ghana.

IIGL has a HOA with the government of the Republic of Ghana to develop, arrange financing (debt & equity), build and operate the refineries which include early refined products, storage export terminal as well as trade in the import and export of crude oil, petroleum products and their derivatives as well as retailing the same products within the country. The Government of the Republic of Ghana will grant a “Free Trade Zone” status to the development of all provisions exclusively for the validity of the Agreement.

Millions of dollars have already been invested for detailed studies which were done in the late 2000’s. The studies include feasibility, marketing and techno-economic for one of the proposed refineries of 200,000 bpd. The refinery will be based on a multi-stream modularised process using well known proven technology with a two staged process encompassing hydro-skimming complexity upstream and VGO hydro cracking complexity downstream including CCR platforming, hydrogen, delayed petroleum coking for processing residuals and de-sulphurisation units.

The refinery proposed lay-out and schedules in annexure below will be built in two overlapping phases of 100,000 bpd. Each phase will reach the total refinery complex capacity upon completion of 200,000 bpd. Also included will be a 100MW power plant, resettlement of existing residential areas, harbour facilities, emergency hospital, hotel and housing areas, road construction and others. The same model will be used on the other proposed 200,000 bpd refinery which will be located 15km away for the total of 400,000 bpd.



About ACI
African Compass International (“ACI”) is a global diversified private natural resources company in frontier, emerging/established emerging and developed markets. The Group farms, explores, sources, refines and produces, inter alia, agriculture products, base metals, ferrous & non-ferrous metals, minor metals, platinum group metals, precious metals, oil & gas and commercial energy. Our diversified operations in Africa, South America and Eurasia are supported by offices in Austria, Canada, Japan and Zimbabwe. ACI always seeks partnerships with all its stakeholders that will add value to projects at hand based on the core values of honesty, integrity and vision.

About IIGL

IIGL is a worldwide contracting organization for buildings, infrastructures, railways, telecommunication, petrochemical and chemical plants, oil & gas processing plants, oil & gas transportation and storage facilities, power generating plants, desalinization plants and industrial plants providing design, construction and maintenance services for all categories of works.

Supporting Resources: please visit; follow @Afrikancompass on Twitter, or join ACI on LinkedIn.

For and on behalf of the Company’s Board of Directors

Julian RUPARE, Jr.

CEO & Chair


The following are the main terms and abbreviations used in this webnews:

ACI              African Compass International Limited and/or its subsidiaries, as appropriate

Barrel           Equivalent to 42 United States gallons

Bpd              Barrels per day

CCR             Continuous Catalyst Regeneration

CEO             Chief Executive Officer

CG                Chief Geologist

CLO             Chief Legal Officer

Company    African Compass International or African Compass International Limited

COO            Chief Operating Officer

HOA           Heads of Agreement

IIGL          ILDAGO International Group of Companies Limited

JV               Joint Venture

Km             Kilometer

MW            Megawatt

VGO           Vacuum Gas Oil

– ends –

African Compass International

Johannesburg | Harare | Vienna | Tokyo

Directors J Rupare Jr (CEO) C N Rupare (COO) U Mazunga (CLO) V M S Correia (CG)