Russia: Refinery Business Maire Tecnimont Awarded EPC Contracts Worth $ 527 Million by Lukoil
Maire Tecnimont announced that its subsidiary KT — Kinetics Technology has been awarded two EPC (Engineering, Procurement and Construction) contracts by Lukoil Nizhegorod Nefteorg Syntez. The contracts are related to five refinery process units as part of the oil residue upgrading project for the Kstovo Refinery, in Central Russia.
Milan/Italy — The overall value of the two contracts is $ 527 million. The EP portion worth $ 156 million was awarded and already communicated to the market on November 10, 2017.
The contracts’ scope of work entails Engineering, Procurement and Construction activities for the implementation of a Diesel Fuel Hydrotreater Unit, a Hydrogen Production Unit, a Pressure Swing Adsorption (PSA) unit as well as a Gas Fractionation Unit and a Sulphur Recovery Unit.
The new units will improve the complexity and technological content of the Kstovo Refinery, enabling the plant to produce higher value products, therefore meeting the growing market demand for cleaner fuels as well as ensuring higher yields of valuable products, the company claims.
Pierroberto Folgiero, Maire Tecnimont Group Chief Executive Officer, commented that these two EPC contracts confirmed the company's strong technological focus in the downstream hydrocarbons value chain, which enabled the clients to improve process efficiency and product quality, while mitigating the environmental impact.