Pak-Arab Refinery Ltd (PARCO) has awarded TechnipFMC a project management consultancy (PMC) services contract to carry out the management of pre-engineering, procurement and construction activities for a grassroot, fully integrated, deep conversion refinery that will be constructed near Karachi, Pakistan.
The project will be managed and operated by wholly-owned subsidiary, PARCO Coastal Refinery Ltd (PCRL). When completed the facilities will comprise a modern, deep conversion refinery with a capacity of 250 000 bpd, supported by associated marine loading facilities. It will be Pakistan’s largest refinery and serve the rapidly growing domestic markets for refined products.
The agreement was signed on 16 May by Tariq Rizavi, CEO of PCRL, and Riccardo Moizo, Senior Vice President – Project Management Consultancy of TechnipFMC.
Sikandar Sultan Raja, Secretary Petroleum Division and Chairman PCRL, said: “Given the rapidly increasing energy and fuel demand of Pakistan, this project is of great importance to improve the fuel supply situation and will support continued economic growth of the country.”
“This multi-billion dollar joint-venture project will further strengthen the relationship between our two brotherly countries. We believe, as the largest industrial project in Pakistan, it will deliver significant value for all stakeholders and provide numerous socio-economic benefits for the country”, said Khalifa Al Suwaidi, Executive Director – Refining & Petrochemicals, Mubadala Investment Co. and Vice Chairman PCRL.
“We understand the strategic importance of the long-term investment that PARCO is undertaking and are proud to be part of this project, which will help meet the fuel requirements of the country and contribute to the growth of PARCO and Pakistan”, said Moizo.
Image courtesy of PARCO
Read the article online at: https://www.hydrocarbonengineering.com/refining/23052018/technipfmc-awarded-refinery-contract-by-parco/