EPC Maire Tecnimont Enters into 1.2-Billion-Dollar Contract with Rosneft
Maire Tecnimont has signed an EPC agreement with Rosneft for developing the Vacuum Gas Oil (VGO) Hydrocracking Complex at the Ryazan Refining Company’s production site in Russia. On completion, the complex is expected to have a capacity of 40,000 barrels per day.
Milan/Italy – Maire Tecnimont has recently announced that its subsidiaries Tecnimont and MT Russia have signed an EPC contract with Rosneft for the implementation of the VGO Hydrocracking Complex at the Ryazan Refining Company’s (RORC) production site, 200 km South-East of Moscow. This contract follows the agreement signed by Maire Tecnimont and Rosneft and announced on October 28, 2021.
The overall contract value is approximately 1.2 billion dollars. The project is subject to financial closing as well as to the fulfilment of certain conditions, typical for this kind of transactions. Project total duration, expected to be typical for this kind of initiatives, will be defined and disclosed once such financial closing and the fulfilment of certain conditions are met.
VGO stands for Vacuum Gas Oil, which is produced by vacuum distillation unit in a refinery plant. Rosneft’s subsidiary RORC is one of the largest Russian refineries by volume of refining and production output.
The project’s scope of work entails a full range of works related to the design, supply of equipment and materials, construction, start-up and commissioning, and project finance services. Once completed, the VGO Hydrocracking Complex will have a capacity of 40,000 barrels per day serving the need of the local market according to the higher standard Class 5 regulation. The project will benefit from highly efficient technology and equipment with an automated control system to reduce the carbon footprint of the plant.
A significant portion of the scope of work will be performed by MT Russia in its Moscow engineering centre, where Maire Tecnimont Group employs about 200 specialists currently involved in several ongoing Russian projects.