Saipem S.p.A. (San Donato Milanese, Italy; www.saipem.com) has signed a Preliminary Agreement with JSC GazpromNeft Moscow Refinery and an engineering, procurement and construction (EPC) Contract with Infrastructure Development and Construction (IDC) for an aggregate value of around €500 million.
The Preliminary Agreement in Russia covers the execution on an EPC basis of a new Sulfur Recovery Unit (SRU) inside the existing Moscow refinery. The signature of the final EPC Contract is expected to take place by the end of the Second Quarter 2019 on the basis of the main terms and conditions agreed between the parties as an integral part of the same agreement.
The EPC contract in Serbia encompasses the design and construction of about 150 kilometers of gas pipeline and the engineering of the relevant compressor station.