By Giulia Petroni 
 

TechnipFMC PLC said Wednesday that it has been awarded a modernization contract for eight ethylene furnaces at Royal Dutch Shell PLC's Moerdijk petrochemicals complex in the Netherlands.

The oil-and-gas sector company said it would replace 16 older units without reducing capacity at the facility, while increasing energy efficiency and cutting greenhouse gas emissions.

The upgrade is expected to reduce the site's annual carbon-dioxide emissions by around 10%, it added.

The financial terms of the contract weren't disclosed, but TechnipFMC said the contract is considered "significant," meaning it ranges between 75 million euros and 250 million euros ($87.8 million-$292.6 million).

 

Write to Giulia Petroni at giulia.petroni@wsj.com

 

(END) Dow Jones Newswires

September 30, 2020 01:53 ET (05:53 GMT)

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