NIGERIA: Maire Tecnimont Inks $1.5 billion Contract with NNPC

Maire Tecnimont has announced that its subsidiary Tecnimont S.p.A. has been awarded a contract by the Federal Executive Council to carry out Rehabilitation works for the Port Harcourt Refinery Company Limited, located in Port Harcourt, Rivers State, in Nigeria, which is a subsidiary of Nigerian National Petroleum Company (NNPC).

The overall contract’s value is about USD 1.5 billion. The project entails engineering, procurement and construction (EPC) activities for a full rehabilitation of the Port Harcourt refinery complex, aimed at restoring the complex to a minimum of 90% of its nameplate capacity. The complex is composed of two refineries totaling an overall capacity of approximately 210,000 bpd (barrels per day). The project will be delivered in phases from 24 and 32 months and the final stage will be completed in 44 months from the award date.

Pierroberto Folgiero, Maire Tecnimont Group Chief Executive Officer, commented: “With this great result we confirm the soundness of our business strategy on geography diversification, as one of its key elements is to grow and assist our clients in their revamping initiatives, leveraging on our technological know-how to ensure more efficient and environmentally better performing processes and products. It represents a testament of our technological DNA, as we are strongly increasing our focus on initiatives for the modernization of the refining sector, such as these strategic rehabilitation works. Moreover, we enhance our footprint in Nigeria and in Sub-Saharan Africa, a market with excellent downstream prospects given its demographics and the necessity to unlock greater added value from the transformation of natural resources. We are eager to keep on supporting a leading player in the area such as NNPC to develop Africa’s downstream sector.”