TechnipFMC Awarded the Bapco Sitra Refinery Expansion in Bahrain
December 04 2017 - 1:00AM
Business Wire
TechnipFMC (Paris:FTI) (NYSE:FTI) (ISIN:GB00BDSFG982) announced
today that, jointly with Samsung Engineering and Tecnicas Reunidas,
it has been awarded a $ 4.2 billion USD contract from Bahrain
Petroleum Company (Bapco) for the Bapco Modernization Program
(BMP). The project is located on Bahrain’s Eastern coast and
entails the expansion of the capacity of the existing Sitra oil
refinery from 267,000 up to 360,000 barrels per day (BPD), improve
energy efficiency, valorization of the heavy part of the crude oil
barrel (bottom of the barrel), enhancing products slate and meeting
environmental compliance.
The project will be executed on engineering, procurement,
construction and commissioning (EPCC) lump sum turnkey basis and is
slated for completion in 2022. It includes the following main
units: Residue Hydrocracking Unit, Hydrocracker Unit, Hydro
Desulfurization Unit, Crude Distillation Unit, Vacuum Distillation
Unit, Saturated Gas Plant, Hydrogen Production Unit, Hydrogen
Recovery Unit, Sulphur Recovery Unit , Tail Gas Treatment Unit,
Sour Water Stripper Unit, Amine Recovery Unit, Bulk Acid Gas
Removal Unit, Sulphur Solidification Unit and Sulphur Handling
Facilities. Utilities and offsites are also part of the scope.
The BMP project will capitalize on the vast experience of the
joint venture partners in Bahrain as well as in the Region.
Nello Uccelletti, President of TechnipFMC’s Onshore Offshore
business stated: “We are honored to be the leader of this joint
venture entrusted for the execution of this prestigious contract
that represent a testimonial of the long-term partnership with
Bapco and strengthen our leadership in the refining sector. This
award is one of the strategic “early engagement” achievement,
following the successful completion by TechnipFMC of the FEED
contract.”
Important Information for Investors and
Securityholders
Forward-Looking Statement
This release contains "forward-looking statements" as defined in
Section 27A of the United States Securities Act of 1933, as
amended, and Section 21E of the United States Securities Exchange
Act of 1934, as amended. The words “scheduled,” “estimated,”
“aimed” and other similar expressions are intended to identify
forward-looking statements, which are generally not historical in
nature. Such forward-looking statements involve significant risks,
uncertainties and assumptions that could cause actual results to
differ materially from our historical experience and our present
expectations or projections. Known material factors that could
cause our actual results to differ from those in the
forward-looking statements include the Company's ability to
successfully deliver, and Bapco’s acceptance of, the various
products ordered. For additional information regarding known
material factors that could cause actual results to differ from
projected results, please see our risk factors set forth in
our filings with the United States Securities and Exchange
Commission, which include our Registration Statement on Form S-4,
Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and
Current Reports on Form 8-K.
We caution you not to place undue reliance on any
forward-looking statements, which speak only as of the date hereof.
We undertake no obligation to publicly update or revise any of our
forward-looking statements after the date they are made, whether as
a result of new information, future events or otherwise, except to
the extent required by law.
About TechnipFMC
TechnipFMC is a global leader in subsea, onshore/offshore, and
surface projects. With our proprietary technologies and production
systems, integrated expertise, and comprehensive solutions, we are
transforming our clients’ project economics.
We are uniquely positioned to deliver greater efficiency across
project lifecycles from concept to project delivery and beyond.
Through innovative technologies and improved efficiencies, our
offering unlocks new possibilities for our clients in developing
their oil and gas resources.
Each of our more than 40,000 employees is driven by a steady
commitment to clients and a culture of purposeful innovation,
challenging industry conventions, and rethinking how the best
results are achieved.
To learn more about us and how we are enhancing the
performance of the world’s energy industry, go to TechnipFMC.com
and follow us on Twitter @TechnipFMC.
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