TR receives the letter of intent for the Sines refinery extension in
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TR receives the letter of intent for the Sines refinery extension in Portugal Técnicas Reunidas (TR) received a letter of intent before a contract formalisation with “Galp Energy”, for the Sines refinery extension project execution, in competition with the main European engineering companies. The Project includes new units of hydrocracker, hydrogen, LPG, acid waters and several changes in the crude, vacuum, visbreaker, FCC, and sulphur recovery units, and also, auxiliary services and off sites. The project was awarded under the model known in the market as OBE’s (“Open Book Estimate”).In the first phase, which is scheduled to last 16-22 months, TR will perform the project’s detailed engineering and purchase some of the main equipment, as well as drawing up a comprehensive estimate of the investment involved, pursuant to a cost-reimbursable services contract. The second phase will take place from the sixteenth month and in this phase the contract will convert into a LSTK project, including the construction of the project. Engineering works will start during September. “Galp Energy” is the main petroleum company in Portugal and Sines is the greatest refinery of the country, and this project implies significant capacity and conversion increase. TR is among the leading international oil, gas and electricity generation engineering and construction companies.
