Technip bags Petronas' Rapid design deal

by **hlk** Wed 14 Mar 2012, 08:25

KUALA LUMPUR: Technip, a world leader in project management, engineering and construction in the energy industry has been awarded a front-end engineering design contract by Petroliam Nasional Bhd (Petronas) for its proposed RM60 billion refinery and petrochemical integrated development (Rapid) project in Johor.

In a statement, Technip said the contract is schedule for completion by 2013.

"This award builds on our long-term presence in Asia Pacific and confirms our leadership in the refining and petrochemical sectors.

"By combining the experience and the teams of our operating centres in Kuala Lumpur (Malaysia), and Paris and Lyon in France, we will be able to provide Petronas with the best technological solution and execution scheme," Technip chairman and chief executive officer Thierry Pilenko said in the statement.

According to the statement, Rapid aims at building a world-scale integrated refinery and petrochemical complex to answer the growing need for specialty chemicals and to meet the demand for petroleum and commodity petrochemical products in the Asia Pacific region by 2016.

The proposed refinery will have a capacity of 300,000 barrels a standard day and will supply naphtha and liquid petroleum gas feedstock for the Rapid petrochemical complex, as well as produce gasoline and diesel that meet European specifications.

The petrochemical units, on the other hand, will enhance the value of the olefinic streams coming from the rapid steam cracker by producing various merchant grades petrochemicals products such as polyethylene, polypropylene, synthetic rubbers and other petrochemicals products.

Present in 48 countries, Technip has state-of-the-art industrial assets on all continents and operates a fleet of specialised vessels for pipeline installation and subsea construction.

From the deepest subsea oil and gas developments to the largest and most complex offshore and onshore infrastructures, its 30,000 people are constantly offering the best solutions and most innovative technologies to meet the world's energy challenges.

Technip shares are listed on the NYSE Euronext Paris exchange and the USA over-the-counter market as an American Depositary Receipt.