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18 June 2015: Maire Tecnimont awarded EPCM contract for Moscow Refinery

18 June 2015

Maire Tecnimont in cooperation with its Russian partners, has been awarded an EP+Cm contract (Engineering, Procurement and Construction Management services) for the execution of the Combined Oil Refinery Unit (CORU) Project, to be implemented inside the existing Moscow Refinery, in the Russian Federation.

Gazprom Neft, is the third-largest oil company in Russia by refining volume and fourth largest in terms of production. Gazprom Neft Group consists of more than 70 production, refining and sales subsidiaries globally, and is majority owned by Gazprom.

The contract value to Tecnimont is approximately €480 million, and will be entered into a multicurrency basis of euro and Russian ruble, the latter totaling approximately 30% of the total amount. The contract is under Lump Sum scheme for Engineering and Procurement and under Reimbursable scheme for Construction Management.

The scope of the project includes the implementation of a new hydroskimming section with a set of process refining units, part of which are licensed by a major refining technology provider. The project will be located at the existing Moscow Refinery perimeter and will be mainly aimed at producing gasoline and diesel distillates under Euro 5 grade specifications. Tecnimont’s scope includes as well ancillary and new utilities units.

A significant portion of materials and subcontracting activities will be supplied by local partners within the Russian Federation. Tecnimont will in fact capitalise its long standing presence in Russian Federation to procure major part of bulk materials in Russia.

Completion is expected within 36 months (ready for start-up) from the Letter Of Intent, which has been signed and represents the commencement date of the contract.

Maire Tecnimont

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