Marie Tecnimont awarded US$2 bn petchem contract by Aramco/TotalEnergies
Italian engineering group Maire Tecnimont S.p.A. has announced that its Integrated E&C Solutions subsidiaries Tecnimont and Tecnimont Arabia Limited have been awarded two lump-sum turn-key EPC contracts related to a petrochemical expansion at the Satorp Refinery (a jv composed of Saudi Aramco and TotalEnergies), in Jubail, Saudi Arabia. The petrochemical facility will enable conversion of internally produced refinery off-gases and naphtha, as well as ethane and natural gasoline, into higher value chemicals.
The overall value of the contracts is approximately US$2 billion. The contracts relate to the execution of two packages of the complex, namely the “Derivatives Units” package – which includes a butadiene extraction unit, an olefin extraction unit, a methyl tert-butyl ether unit, a butadiene selective hydrogenation unit, a 2nd stage pygas hydrogenation unit and benzene & toluene extraction unit – and the HDPE & Logistic Area package, which includes two polyethylene units and the relevant product logistic facilities.
The project’s scope of work entails complete engineering services, equipment and material supply, construction activities, pre-commissioning, and commissioning, and shall have a duration of approximately 4 years.
With this award, the group’s year-to-date order intake is over EUR2.6 billion (including approximately EUR200 million related to the contract for a fertiliser plant in Egypt, subject to successful execution of the client’s financing package). Considering the important commercial prospects in the coming months, a very strong second half is expected, which will provide a solid driver to the Group’s growth this year and beyond.
Alessandro Bernini, MAIRE Group CEO, commented: “We are extremely proud of having been selected by Saudi Aramco and TotalEnergies for this major initiative. It is a further recognition of Tecnimont’s world-class capabilities to execute complex projects in complex environments, as well as our undisputed leadership in downstream petrochemicals. These awards will provide a significant addition to our already large 8-billion Euro backlog, increasing revenues visibility in the short- and medium-term. It is also for these reasons, and in a context of continued robust demand, that we keep investing in talent, with almost 600 new engineers added year to date.”
