WILLEMSTAD - The possible new operator of the refinery in Curaçao, Klesch Group is on the island this week. Reason for their visit is to prepare a plan for the restart of the refinery. This is done together with experts from PdVSA’s subsidiary company Isla.
In addition to a restart plan, it is calculated and determined which investment amount is involved in the start-up of the Isla, which has been virtually inoperative since May 2018c due to PdVSA’s financial situation and also the sanctions imposed by the U.S. on Venezuela’s government. Klesch’s business case will also be further elaborated and there will be meetings between Klesch and the Isla unions.
Klesch Group has several representatives on the island, but the company is also assisted by Muse Stancil, which is a consulted experienced in the oil business.
The possible new operators will check the state of the installations and equipment, analyzes of the operational data, data processing with regard to personnel, the safety situation and the environment.
An agreement was signed with Klesch Group on 4 September for exclusivity. The government of Curaçao will continue negotiating only with the Klesch Group. Approval for Klesch's access to the Isla site followed on 27 September. Last Friday, October 4, the kick-off meeting took place between Klesch and the management team of Isla, after which Klesch sent questions about due diligence to Isla.
Klesch, Isla and the Project Management Organization (PMO) of RdK have already started to investigate how the transition of certain entities can take place.
Other steps that need to be taken are arranging the legal paperwork, meeting and coordinating with government companies such as Curoil (fuel distribution), tug company Kompania di Tou Kòrsou (KTK) and the port company Curaçao Ports Authority (CPA).