Nghi Son Refinery awards project

Foster Wheeler Energy Limited of the U.K has recently clinched a deal worth US$55 million to undertake the Front End Engineering Design (FEED) for Nghi Son Petrochemical Refinery Complex in central Thanh Hoa province, Vietnam, state media reported. The complex has an initial investment of US$6.2 billion with Vietnam National Oil and Gas Group (PetroVietnam) holding a 25.1% stake, Idemitsu Kosan Corp. (IKC) of Japan and Kuwait Petroleum International (KPI) 35.1% each, and Mitsui Chemicals Inc. (MCI) of Japan 4.7%. It will be equipped with the most modern technology and be the biggest of its kind in Vietnam with a capacity of refining 200,000 barrels per day (bpd) of oil or 10 million tons per year (tpy), a 1.5-fold increase compared to Dung Quat Oil Refinery, Vietnams first refinery that is currently under construction. The plant will use crude oil imported from Kuwait to produce 2.1 million tpy of gasoline with 92, 95 and 98-octane grades, 2.67 million tpy of diesel fuel, 790,000 tpy of kerosene and jet fuel, as well as 500,000 tpy of liquefied petroleum gas (LPG). The first phase of the project will be operational by late 2012 or early 2013 to supply 60% of Vietnam’s petroleum demand. Its capacity will be raised to 20 million tpy in the second phase. (July 21, 2008)</P>