Refineries Bilfinger Westcon Bags € 135 Refinery Construction Deal in the US
Bilfinger's American subsidiary Westcon has bagged a slice of the country's booming petro–market: The company has been awarded a contract for key project management as well as the construction of a grass-roots refinery for Dakota Prairie Refining in North Dakota.
Munich/Germany – For Dr. Michael Herbermann, CEO of Bilfinger Industrial Services, this contract in the midstream oil & gas sector marks an important step in the implementation of the Bilfinger Group’s growth strategy: “The United States is one of our strategic target markets. With our services and extensive experience, we enjoy great renown in the oil and gas industry in particular. We will be additionally strengthening our activities in this region,” he adds.
Oil and gas supplies are increasing due to the development of the Bakken oil shale formation that exits in the northern region of the U.S. as well as the southern part of Canada. This project will utilize the regional supply from the current North Dakota drilling activity and will provide diesel product for the regional demand. It is the first new refinery to be built in the U.S. since 1976, with a diesel capacity of 20,000 barrels per day. With a value of € 135 million, the project is to be completed by December 2014.
Further Projects in North America to Come
This deal shall set the pace for further Westcon activities in the US' petro–market: Jean-Pierre Pasquereau, the COO responsible for North America, states: “We are very confident of securing further major projects. Our US companies are greatly appreciated by their customers and can therefore make use of the current favourable market conditions to fill their order books.”
Westcon Acquisition Opened Door into US Oil and Gas Business
Serving the US oil and gas industry, Bilfinger Westcon has been a member of the Bilfinger Group since mid-2012. The company broke ground on the project in early April and is currently performing the overall project management as well as the construction of the Dakota Prairie Refinery.
Against this backdrop, Mark C. Peterson, CEO and founder of Bilfinger Westcon, views the company’s new membership of the Bilfinger Group in a very favourable light: “Being part of such a large company as the Bilfinger Group with just under 70,000 employees and a broad range of services offers us interesting new possibilities for development. Working with our affiliates, we have even greater potential for unrolling new markets and regions together.”