|TechnipFMC Signs a Major Contract with MIDOR for Their Refinery Expansion and Modernization in Egypt|
This EPC contract covers the debottlenecking of existing units as well as the delivery of new units including a Crude Distillation Unit, a Vacuum Distillation Unit, a hydrogen production facility based on our steam reforming technology, as well as various process units, interconnecting, offsites and utilities.
Starting in 2022, the modernized complex will exclusively produce Euro V products, with a 60% increase in the refinery’s original capacity to 160,000 barrels per day of crude oil.
The company is working with MIDOR to complete the remaining conditions precedent to enable project work to commence. The Company will include the contract award in its inbound when all the requirements are fulfilled.
Moreover, in the spirit of cooperation with the Egyptian government,
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This release contains "forward-looking statements" as defined in Section
27A of the United States Securities Act of 1933, as amended, and Section
21E of the United States Securities Exchange Act of 1934, as amended.
The words “estimated”, “aimed”, “scheduled” and similar expressions are
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results to differ materially from our historical experience and our
present expectations or projections. Known material factors that could
cause our actual results to differ from those in the forward-looking
statements include the Company's ability to successfully deliver, and
MIDOR’s acceptance of, the onshore products ordered. For additional
information regarding known material factors that could cause actual
results to differ from projected results, please see our risk factors
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We are uniquely positioned to deliver greater efficiency across project lifecycles from concept to project delivery and beyond. Through innovative technologies and improved efficiencies, our offering unlocks new possibilities for our clients in developing their oil and gas resources.
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