Maire Tecnimont S.p.A. (Milan, Italy; www.mairetecnimont.com) announced that its main subsidiaries Tecnimont S.p.A. and KT-Kinetics Technology S.p.A. have signed an Engineering, Procurement and Construction (EPC) contract with the State Oil Company of Azerbaijan Republic (SOCAR) as part of the execution of the modernization and reconstruction project for the Heydar Aliyev Baku Oil Refinery in Azerbaijan. The overall contract value equals to approximately $800 million.
The scope of the project entails the installation of several new grassroots process units, the relevant utilities and storage with the final aim to upgrade the refinery facilities to be capable of processing 7.5 million metric tons per year (m.t./yr) of crude oil, while meeting quantity and quality requirements of products both to feed the Azerikimya revamped petrochemical plant and to produce Euro V quality automotive transportation fuels. Among the new process units in the scope are a naphtha splitter, a diesel hydrotreater unit, an isomerization unit, a hydrogen production unit, two PSA units, a C4 hydrogenation unit, a MTBE unit, and a sour-water stripper unit with a sulfur recovery unit.
The project is expected to be completed within 41 months from the signing date.
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.”