Kuwait Petroleum awards Vietnam refinery contract
Kuwait, January 29, 2013
Kuwait Petroleum International (KPI) and its joint venture partners have awarded an engineering, procurement and construction (EPC) contract for the massive $9 billion refinery and petrochemical complex coming up in northern Vietnam, state news agency Kuna reported.
KPI, the international marketing arm of top energy conglomerate Kuwait Petroleum Corporation, had established the joint venture in 2008 with PetroVietnam, Japan's Idemitsu Kosan Company and Mitsui Chemicals.
The Nghi Son Petrochemical Refinery Complex, to be built 180 km south of capital Hanoi, is Vietnam's second refinery and the first one with foreign investors' participation, said the report.
The refinery will have an oil processing capacity of 200,000 barrels per day (bpd) when operational in 2017, the report stated.
The capacity would be doubled in the second phase if justified by strong demand, said the news agency citing a KPC official.
The joint venture will possibly double the volume to 400,000 bpd after the project is expanded in the second phase, he added.
More Energy, Oil & Gas Stories
- S Korea to pay Iran $550m under nuke deal
- Qatar LPG exports will stay unchanged till 2018
- $14bn Bahrain energy sector focus for summit
- Iraq now world's fastest-growing oil exporter
- Old IT systems pose risk to oil firms
- Thomson Reuters adds commodity monitoring tool
- Oil below $90 to hit GCC economies
- GlassPoint appoints new Oman director
- Sheffield company opens Dubai hub
- Oman targets big rise in gas output
- Intertek buys UAE firm for $66m
- Qaiwan to tender Baizan refinery EPC contract
- Al Maha wins Oman Air fuel supply deal
- Iran to become top gas importer by 2025
- UAE hydrocarbon projects seen hitting $11bn
- Summit focus on occupational safety
- Aramco names new senior VP
- Siemens gets $253m Qatar power contract
- Taqa-led group's India deal worth $1.6bn
- Taqa-led group to buy India power plants
- Iraq oil exports hit record 2.8m bpd
- Korean refiners eye more Iraq crude
- Dana starts Egypt gas plant upgrade
- Opec oil production hits new high in Feb
- Taqa-led group to buy Indian hydropower plants
- Schneider gets energy management certification
- Morocco moves ahead with $1.7bn wind farms
- Iraq approves power plant investments
- 670,000 oil & gas wells ‘need to be drilled’
- Qatar bourse celebrates Mesaieed listing