Technip FMC has been awarded an EPC contract by Assiut National Oil Processing Company for the construction of a new hydrocracking complex for the Assiut refinery in Egypt. The project is expected to support the national government’s Energy Transition strategy as well as reduce environmental emissions in the region.
Under the terms of the agreement, Technip FMC and Mc Phy will work together to develop hydrogen technology and address commercial opportunities. Technip FMC has also made an equity investment in Mc Phy.
Arnaud Pieton has been appointed as President and CEO-elect of Technip Energies. The company has also selected Jonathan Landes to be the President, Subsea. Both of them will be taking charge of their new responsibilities immediately.
Assiut National Oil Processing Company has awarded the project to construct a new hydrocracking complex for the Assiut refinery in Egypt. The new project is expected to transform lower-value petroleum products into 2.8 million tonnes per year of cleaner products.
Amidst the coronavirus pandemic and unfavourable market conditions, Technip FMC has decided not to go ahead with its planned separation into two different entities—Technip FMC and Technip Energies—until markets recover.
Technip FMC has secured an engineering, procurement and construction management services contract from Motor Oil Hellas for a new naphtha complex in Greece. The new naphtha project is expected to have a capacity of 22,000 barrels per day.
The contract has been awarded by Woodside for its Pyxis and Xena fields which are located offshore North West Australia. Under the terms of the agreement, Technip FMC will design, manufacture, deliver and install subsea equipment for both the fields.
Technip FMC and DNV GL aim to set a benchmark towards the integrity of the digital twin technology in the oil and gas sector. The new technology will enable industry players to undertake better decisions in their projects and operations.
Technip FMC’s Board of Directors has announced that the company will be split into 2 industry-leading and publicly traded companies – Remain Co and Spin Co. With this move, both the firms will be able to focus on their strategies and grow in their respective business.