Gazprom Neft subsidiary NIS invests €72 million in production modernisation

The company have also concluded an agreement with international company Lummus Technology (part of the McDermott Group) on front-end engineering (FEE) for the modernisation of the facility’. NIS’ investment in the project will be more than €72 million, with works expected to be completed by 2024. Modernising the cat-cracking facility forms part of the Pancevo Refinery development programme being undertaken by the company since 2009.

This project will also include construction of a production facility for high-performance gasoline components. As well as improving the business’ operational efficiency, this modernisation project will also further reduce its environmental impact. The Pancevo Refinery is, today, one of the most modern refineries southeast Europe, with a maximum annual refining capacity of 4.8 million t. Thanks to the various programmes under its modernisation programme, the plant will deliver a refining depth (conversion factor) of 99.2%, and completely abandon mazut production.

NIS has previous experience of successful cooperation with Lummus Technology, with specialists at both companies having worked together on a key project in the first phase of the Pancevo Refinery’s modernisation — a light hydrocracking and hydrotreatment complex. Construction of a deep oil refining facility, also designed under licence from Lummus Technology, is now in its final stage.

Read the article online at: https://www.hydrocarbonengineering.com/refining/16012020/gazprom-neft-subsidiary-nis-invests-72-million-in-production-modernisation/