Future Development

In order to continue playing a vital role in the oil world, the refinery needs to comply with international requirements and requirements from the community where it is located.
It is for this reason the government has already begun working on the objectives for the refinery.
Its objectives are:
An investment program that enable the refinery to meet new product specifications and Current environmental regulation;
Reduced environmental impact;
Reduced energy costs for the island;
Maximize employment for locals within economical reason
New venture has to be beneficial to all partners, and not only to the operator.

In that light, strategic orientation studies were initiated in December 2004. A study on the future optimum configuration of the refinery was performed and the costs to arrive at this configuration were determined. In this study, the environmental impact of the refinery was also assessed. Furthermore a study was conducted on the impact of the refinery on the Curaçao economy, including the costs involved for possible upgrading of the refinery.

A technical committee was formed to investigate the best option for the future of the refinery, be it the same existing lease construction, partnership with other oil companies or selling the refinery. Also the wishes of PDVSA are being discussed.

A technical committee was formed by the Government of Curacao on the 29th of November 2013. This technical committee is called the Multi-Disciplinary Project Team (hereinafter referred to as “MDPT”).

The MDPT has the following objectives:

  • - To work towards upgrading the refinery using modern norms and standards (including environmental standards)
  • - To negotiate a new agreement with sufficient benefits for Curacao with the participation of one or more strategic partners.