Brief: Tecnicas Reunidas And Sinopec Wins Two Contracts By Saudi Aramco For More Than 3.3 Bln USD

SINOPEC Engineering Co

22/01/2024 07:12

Jan 22 (Reuters) - Tecnicas Reunidas SA  TRE.MC :
    * TECNICAS REUNIDAS AND SINOPEC AWARDED TWO CONTRACTS BY
SAUDI
ARAMCO FOR MORE THAN 3.3 BILLION USD
    * JV IS 65% PARTICIPATED BY TECNICAS REUNIDAS AND 35% BY
SINOPEC
ENGINEERING GROUP, WHICH MEANS THAT SPANISH COMPANY TO ACCOUNT
FOR MORE THAN $2.15 BILLION OF INVESTMENT
    * FIRST PROJECT AWARDED TO TECNICAS REUNIDAS BY SAUDI ARAMCO
FOLLOWING STRATEGIC ALLIANCE RECENTLY SIGNED BY SPANISH COMPANY
WITH SINOPEC ENGINEERING GROUP FOR DEVELOPMENT OF COMMON
PROJECTS
    * JOINT VENTURE BETWEEN TECNICAS REUNIDAS AND SINOPEC
ENGINEERING
GROUP HAS BEEN SELECTED AS EPC CONTRACTOR AND WAS AWARDED
LUMPSUM CONTRACT FOR RIYAS NGL FRACTIONATION FACILITY IN SAUDI
ARABIA
    * THE PRIMARY OBJECTIVE OF THE PROJECT IS TO ENABLE THE
FRACTIONATION OF NGLS, THUS PRODUCING ETHANE, PROPANE, BUTANE
AND PENTANE
    * NEW FACILITIES TO BE DEVELOPED BY TECNICAS REUNIDAS AND
SINOPEC
ENGINEERING GROUP WILL FRACTIONATE 510 THOUSAND BARRELS PER DAY
(MBD) OF NGLS
    * EXPECTED DURATION OF THE PROJECT IS ABOUT 46 MONTHS FOR
PACKAGE
1 AND ABOUT 41 MONTHS FOR PACKAGE 2
    * TWO TRAINS OF PACKAGE 1 WILL PROCESS 255 MBD EACH AND WILL
INCLUDE FRACTIONATION, TREATMENT, DEHYDRATION AND REFRIGERATION
UNITS, COMMON FACILITIES OF PACKAGE 2 WILL PROVIDE FEED AND
PRODUCT SURGE STORAGE, CHEMICALS STORAGE AND UTILITIES

Source text for Eikon:  ID:nCNM994Pm7 
Further company coverage:  TRE.MC 

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