TechnipFMC (NYSE: FTI) (PARIS: FTI) has been awarded a significant(1) Engineering, Procurement and Construction management (EPCm) services contract for the construction of a new naphtha complex for Motor Oil Hellas' Corinth Refinery in Greece.
This new naphtha complex will have a capacity of 22,000 barrels per day and consist of three new process units: a naphtha hydrotreater unit, a platforming unit and an isomerization unit. Upon completion, the complex will allow Motor Oil Hellas Refinery to increase its production of Euro 5 gasoline, aligned with its strategy to increase the production of clean fuels. The project also includes upgrading the existing utilities and offsite units to meet the requirements of the new complex.
This award follows the successful execution of TechnipFMC's FEED (front end engineering design) for the same complex.
Catherine MacGregor, President of TechnipFMC's Onshore/Offshore business, commented: "With this project, TechnipFMC strengthens its expertise in the delivery of complex projects and its leadership within the European downstream market. This project also illustrates the strong historical relationship between TechnipFMC and Motor Oil Hellas over the past 45 years."
(1) For TechnipFMC, a "significant" contract is between $75 million and $250 million
Note: this inbound order was included in the Company's fourth quarter 2019 financial results.