TechnipFMC Signs a Major Contract with Assiut National Oil Processing Company (ANOPC) for a New Hydrocracking Complex in Egypt
July 07 2020 - 4:30PM
Business Wire
TechnipFMC (NYSE:FTI) (Paris:FTI) (ISIN:GB00BDSFG982) has signed
a major(1) Engineering, Procurement, and Construction (EPC)
contract with Assiut National Oil Processing Company (ANOPC) for
the construction of a new Hydrocracking Complex for the Assiut
refinery in Egypt.
This EPC contract covers new process units such as a Vacuum
Distillation Unit, a Diesel Hydrocracking Unit, a Delayed Coker
Unit, a Distillate Hydrotreating Unit as well as a Hydrogen
Production Facility Unit using TechnipFMC’s steam reforming
proprietary technology. The project also includes other process
units, interconnecting, offsites and utilities.
The complex will transform lower-value petroleum products from
Assiut Oil Refining Company’s (ASORC) nearby refinery into
approximately 2.8 million tons per year of cleaner products, such
as Euro 5 diesel.
Catherine MacGregor, President of Technip Energies, stated:
“This award demonstrates TechnipFMC’s long-standing relationship
with the Egyptian petroleum sector and strengthens our expertise in
the delivery of complex projects in the country. It comes after
successful execution of the FEED(2), reflecting our selective
approach and the importance of being involved at a very early stage
of any development. Assiut is considered one of the major strategic
projects needed to meet growing local demand for cleaner products,
and we are extremely honored to have been selected by ANOPC to
contribute to the largest refining project to be implemented in
Upper Egypt.”
The Company is working with ANOPC to complete the remaining
conditions precedent to enable project work to commence. The
Company will include the contract award in its inbound when all the
requirements are fulfilled.
- For TechnipFMC, a “major” contract is over $1 billion.
- Front-End Engineering and Design
###
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 “believe”, “estimated” 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. For 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 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 37,000 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.
TechnipFMC utilizes its website www.TechnipFMC.com as a
channel of distribution of material company information. To learn
more about us and how we are enhancing the performance of the
world’s energy industry, go to www.TechnipFMC.com and follow us on
Twitter @TechnipFMC.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200707005766/en/
Investor relations
Matt Seinsheimer Vice President Investor Relations Tel: +1 281
260 3665 Email: Matt Seinsheimer
Phillip Lindsay Director Investor Relations Europe Tel: +44 203
429 3929 Email: Phillip Lindsay
Media relations
Christophe Belorgeot Senior Vice President Corporate Engagement
Tel: +33 1 47 78 39 92 Email: Christophe Belorgeot
Jason Hyonne Public Relations Officer Tel: +33 1 47 78 22 89
Email: Jason Hyonne
TechnipFMC (NYSE:FTI)
Historical Stock Chart
From Apr 2024 to May 2024
TechnipFMC (NYSE:FTI)
Historical Stock Chart
From May 2023 to May 2024