The Management Board of the project, represented by the Binh Son
Refining and Petrochemical Company Ltd (BSR), signed the front-end
engineering design ( FEED) contract with Foster Wheeler in Hanoi on
August 28.
Totalling US$25.6 million, the contract will be carried out within 15 months, starting from this August.
Speaking at the signing ceremony, Deputy General Director of the
Vietnam National Oil and Gas Group (PetroVietnam) Le Manh Hung asked
Foster Wheeler to strictly implement articles of the contract, saying he
hopes the refinery will be able to operate at peak capacity by applying
the most modern technologies and achieve its high competitiveness.
Designed to process 100 percent of crude oil products tapped from the
Bach Ho oil field with a capacity of 6.5 million tonnes of crude oil per
year, the Dung Quat oil refinery began its commercial operations in May
2010.
The expansion, which is estimated at US$1.8 billion, is scheduled to be completed by the end of 2021.
It aims to help the refinery’s products meet international standards and
the EURO 4 and 5 criteria, as well as environmental standards in line
with Government regulations.
The BSR currently meets between 30 and 35 percent of the domestic
gasoline demand which is predicted to remain unchanged until 2021.
Foster Wheeler is one of the leading design consulting contractors in
the world. It has been hired to build master designs for the Dung Quat
and Nghi Son oil refineries.
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