Tecnimont awarded US$1.5b Contract for Refurbishment of Refinery in Nigeria
Nigeria's Federal Government has awarded a US$1.5 billion EPC contract for rehabilitation works on the Port Harcourt refinery to Italian firm Tecnimont SpA.
The scope of the EPC contract includes the detailed engineering, procurement and construction (EPC) activities for a full rehabilitation of the Port Harcourt refinery complex, aimed at restoring the complex to a minimum of 90% of its nameplate capacity. The complex is composed of two refineries totaling an overall capacity of approximately 210,000 bpd (barrels per day). The project will be delivered in phases from 24 and 32 months and the final stage will be completed in 44 months from the award date.
The Port Harcourt refinery complex is located in Port Harcourt, Rivers State, in Nigeria, and is owned and managed by the Port Harcourt Refinery Company Limited, which is a subsidiary of the Nigerian National Petroleum Company (NNPC) group.
Tecnimont SpA is a subsidiary of Marie Tecnimont SpA, an Italian group of companies operating internationally in the engineering, technology and energy sectors. The Maire Tecnimont Group operates in approximately 45 countries, through approximately 50 operative companies and about 9,000 people.
The agreement was signed between Tecnimont and NNPC group.
Marie Tecnimont intends to use the Port Harcourt refinery deal to strengthen its footprint in Nigeria.
Pierroberto Folgiero, Maire Tecnimont Group Chief Executive Officer, commented: “With this great result we confirm the soundness of our business strategy on geography diversification, as one of its key elements is to grow and assist our clients in their revamping initiatives, leveraging on our technological know-how to ensure more efficient and environmentally better performing processes and products. It represents a testament of our technological DNA, as we are strongly increasing our focus on initiatives for the modernization of the refining sector, such as these strategic rehabilitation works. Moreover, we enhance our footprint in Nigeria and in Sub-Saharan Africa, a market with excellent downstream prospects given its demographics and the necessity to unlock greater added value from the transformation of natural resources. We are eager to keep on supporting a leading player in the area such as NNPC to develop Africa’s downstream sector.”
Top Photo: Tecnimont & NNPC representatives signing the EPC contract for Rehabilitation of the Port Harcourt Refinery (@NNPCgroup Twitter Handle)