Tecnicas Reunidas has signed the contract for the execution of the process units for the new refinery of Duqm in Oman.
As the company already announced, Tecnicas Reunidas received the letter of intent for the EPC contract award in August 2017. This project is part of the Omani government plan for the industrial development of the Special Economic Zone of Duqm, which includes the new grassroot refinery, with an overall investment of $15bn in the coming 15 years and already includes a dry dockyard, harbour and related infrastructure such as roads and utilities. The refinery is the key project of the area.
The contract has been awarded on a lump sum turnkey basis to the international joint venture leaded by Tecnicas Reunidas (Spain) and Daewoo Engineering and Construction (South Korea) for an approximate value of $2.75bn and 47 months of duration. This is the largest of the three packages awarded for the refinery and includes all the process units.
The project will be developed at Tecnicas Reunidass offices in Madrid, being the company the majority partner of the joint venture with a participation of 65%. This project will enlarge the experience and activity of Tecnicas Reunidas in the Middle East, following the recent awards of another important oil and gas projects in the region.
Duqm Refinery and Petrochemical Industries Company (DRPIC) is a joint venture between the state-owned Oman Oil Company (OOC) and Kuwait Petroleum International (KPI), the international subsidiary of Kuwait Petroleum Corporation (KPC).
Tecnicas Reunidas is one of the main international engineering and construction companies in the sectors of production of oil and gas, petrochemical and power generation for a wide range of clients worldwide. Since 1960, it has designed and built over 1,000 industrial plants in over 50 countries.