China's Wison wins work for Venezuela Puerto la Cruz refinery upgrade

27 June 2012 16:47  [Source: ICIS news]

HOUSTON (ICIS)--Wison has won a contract for work to upgrade Venezuela’s Puerto la Cruz oil refinery, the China-based petrochemicals engineering firm said on Wednesday.

Wison said that under a $3bn (€2.4bn) contract from Venezuela’s state oil firm PDVSA, it will work with South Korea’s Hyundai to provide engineering services to “upgrade refinery facilities to process heavy crude oil, with a capacity of 210,000 bbl/day.”

In addition, the contract calls for the expansion of gasoline, diesel and aviation kerosene projects and other facilities, Wison said.

The project is expected to be completed within 42 months from its commencement, it added.

Wison did not say when the work will begin, and it did not comment on the refinery’s current capacities.

Wison expects its share of the $3bn contract to come to about $928m, it said.

In December last year, Japanese petrochemicals engineering firms also won contracts for work on the Puerto la Cruz refinery upgrade. The facility is located about 250km east of Caracas.

($1 = €0.80)

By: Stefan Baumgarten
+1 713 525 2653

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