MOSCOW (MRC) -- Technip has announced two separate deals to modernize and expand refineries in Egypt, as per Hydrocarbonprocessing.
In the first deal, Technip announced the finalization of a joint agreement with Egyptian General Petroleum Corp. (EGPC) and Assiut Oil Refining Co.(ASORC) for the modernization project of the Assiut refinery in Upper Egypt.
The investment has an estimated total value of USD1.5 billion. The deal aims at maximizing diesel production and will introduce the most modern refinery technologies in Upper Egypt to satisfy growing local demand for petroleum products.
According to the agreement, Technip will start activities for the project, as well as providing support to ensure project financing. In due course, Technip will take responsibility for the EPC phase of the Assiut project.
Likewise, Technip and SACE also announced the finalization of a joint agreement with Midor (Middle East Oil Refinery) for a project to modernize and expand the MIDOR refinery near Alexandria, Egypt.
That investment has an estimated total value of USD1.4 billion and aims at improving the production quality of the plant, considered the most advanced of the African continent, by increasing its refining capacity from 100,000 to 160,000 bpd of crude oil.
As MRC informed previously, in November 2014, Technip was awarded a contract by Westlake Chemical to provide detailed engineering and procurement services to expand the recovery section of Westlake’s Petro 1 ethylene plant at its complex in Sulphur, Louisiana. Technip’s operating center in Houston will execute the project, with support from the group’s office in Mumbai, India.
MRC