Maire Technimont signs $800 million revamp contract with SOCAR
Milan – Maire Tecnimont S.p.A. announces that its main subsidiaries Tecnimont S.p.A. and KT-Kinetics Technology S.p.A. have signed with the Client SOCAR (State Oil Company of Azerbaijan Republic) Heydar Aliyev Baku Oil Refineryan EPC contract (Engineering, Procurement and Construction)as an important part of the execution of the Modernization and Reconstruction works for the Heydar Aliyev Baku Oil Refinery, in Azerbaijan.
Overall contract value equals to approximately USD 800 million.
The scope of the project entails the installation of several new grass root process units, the relevant utilities and storage with the final aim to upgrade the refinery facilities to be capable of processing 7.5 MMTPA of crude oil, while meeting quantity and quality requirements of products both to feed Azerikimya revamped petrochemical plant and to produce Euro V quality automotive transportation fuels. Among the new process units in the scope it is worth mentioning a Naphtha Splitter, a Diesel Hydrotreater Unit, an Isomerization Unit, a Hydrogen Production Unit, two PSA Units, a C4 Hydrogenation Unit, a MTBE Unit, a Sour Water Stripper Unit with Sulphur Recovery Unit.
Process technologies involved are coming from the major refining Licensors including KT-Kinetics Technology, part of Maire Tecnimont Group.
The project is expected to be completed within 41 months from the signing date.
The project is a major milestone for Maire Tecnimont Group’s Oil & Gas business since it represents a flagship award in downstream refining. Moreover, it confirms the orientation of the Group to leverage its distinctive competencies, technological know-how and synergies between its EPC contractors.
Pierroberto Folgiero, Maire Tecnimont Chief Executive Officer, commented: “After our two strategic petrochemicals projects in Azerbaijan, this contract enables Maire Tecnimont Group to consolidate the fruitful relation with SOCAR also in the refining business, supporting the strategy of integration with the petrochemical business. We are truly honored to keep on supporting such a prestigious client in the development of the Country’s hydrocarbons downstream sector.”
Rovnag Abdullayev, President of SOCAR, said: “Today we made one more step toward the production of high-quality diesel, gasoline and other fuels of Euro-5 standards. Maire Tecnimont is one of the global leading companies. Cooperating with the world’s leading companies will enable us to supply high-quality fuel to Azerbaijan’s domestic market and increase the export revenues in the years ahead.”
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