Technip Awarded a Major Refining Contract in Bulgaria

Thursday, Jan 26, 2012

Technip (Paris:TEC) (ISIN:FR0000131708) was awarded by Lukoil Neftochim Burgas ad, subsidiary of OAO LUKOIL, a lump sum turnkey contract, worth more than €900 million (Technip share around €600 million), for the engineering, procurement and construction of Phase 1 of a heavy residue hydrocracking complex to be built at their refinery in Burgas, Bulgaria.

This contract covers the detail engineering, procurement of equipment and material, construction, pre-commissioning and commissioning of a 2.5 million tons/year vacuum residue hydrocracker based on Axens H-Oil process, as well as amine regeneration unit, sour water stripper, hydrogen production units, utilities and offsites upgrading.

Nello Uccelletti, Technip Senior Vice President Onshore stated: "We are proud to have been chosen by the Lukoil Group for this major project. This award recognizes the know-how and expertise of our teams. It also confirms Technip's leadership in the field of refining after projects such as Dung Quat in Vietnam, Jubail in Saudi Arabia, and Algiers Refinery in Algeria.”

Technip's operating center in Rome, Italy will execute the contract which is scheduled to be completed by end of January 2015.

The contract follows the successful execution of the front-end engineering design completed by Technip in the first quarter of 2010, and the detailed engineering and procurement services contract won at the beginning of 2011.

Source: Business Wire

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