A consortium led by Petrofac has secured a contract worth around $4bn for Thai Oil Public Company’s (Thai Oil) Clean Fuels Project on the East coast of Thailand.
Image: The contract will be completed over a period of approximately four years. Photo courtesy of Petrofac Limited.
The consortium, which also includes Saipem and Samsung Engineering, will carry out the contract for the Clean Fuels Project over a period of nearly four years.
Petrofac’s share of the contract value is around $1.4bn.
The Clean Fuels Project will transform the existing oil refinery in Sriracha, Chonburi, into an environmentally-friendly facility. Upon completion, the refinery will produce higher quality transportation fuels.
Sriracha, which is the main refinery in the country, is located in the province of Chonburi, along the eastern coast of the Gulf of Thailand.
Besides, the project will result in increasing the refinery’s production capacity from 275,000 barrels per day to 400,000 barrels per day.
Under the contract, the consortium will be responsible for engineering, procurement, construction and commissioning services of the Clean Fuels Project.
Petrofac, Saipem and Samsung Engineering will be responsible for improvements and expansion at the existing facility as well as the addition of new complex processing units, all required utilities and supporting facilities.
Petrofac’s engineering & construction growth business group managing director Sunder Kalyanam said: “We are delighted to have secured this contract and to be leading the consortium on delivery of an important project that will enhance the country’s long-term energy stability and economic development, and boost its output of high quality clean fuels.
“We look forward to the safe and efficient delivery of this project for Thai Oil.”
Currently, Petrofac has a contract in Thailand to provide operations and maintenance services for the FPF-003 floating production, storage and offloading (FPSO) vessel on the Jasmine field in the Gulf of Thailand until 2023.
Saipem’s share of the total contract value for the Thai Oil’s Clean Fuels Project is also about $1.4bn.
Saipem E&C onshore division chief operating officer Maurizio Coratella said: “The award of this contract consolidates the presence of Saipem in an area with great development prospects such as Southeast Asia and in particular Thailand, as well as confirming the Company’s ability to promote strategic partnerships and become a key player in the field of clean fuel technologies and high-tech projects”.