The amount of the contract and the terms of the agreement were not disclosed.

Under the agreement, Delsan-AIM will acquire the assets and gradually dismantle and demolish them, and sell all the re-useable refining equipments, pipes, vessels and other assets to customers or recycle them at its metals recovery system.

Delsan-AIM Environmental Services principal Herbert Black said, "This agreement provides Delsan-AIM an exciting opportunity to not only demonstrate our demolition capabilities and environmental management system, but recover refinery assets that can be used elsewhere."

Shell Project Manager Nick Vecchiarelli said the company selected Delsan-AIM for the project based on the fulfillment of certain criteria.

"They have demonstrated top-notch performance on other similar ventures, and they have the expertise and know-how to be able to execute this project safely and flawlessly," Vecchiarelli said.

Desan-AIM will start dismantling and demolition work in the final quarter of 2012 and is expecting to complete the project work in late 2014.