TECNA lands LatAm contracts with Petrobras, Total worth $600m

25 October 2013 23:11  [Source: ICIS news]

MEDELLIN, Colombia (ICIS)--Engineering and construction company TECNA, a subsidiary of Madrid-based Isolux Corsan, has landed $600m (€432m) worth of contracts with Petrobras and Total for projects in Latin America, Isolux said on Friday.

Brazil’s state-run energy giant Petrobras awarded TECNA a $240m contract for the engineering, procurement and construction of two gas treatment units at the Complexo Petroquimico do Rio de Janeiro (Comperj), Isolux said in a statement.

TECNA was awarded a second contract, also at Comperj, for the development of basic and detailed engineering, supply, technology, procurement and construction of two natural gas processing trains with a capacity of 1.5 million cubic metres (mcm)/day each.

Meanwhile, French oil and gas major Total awarded TECNA two contracts worth $330m for the engineering and installation of equipment at the Incahuasi gas project in Bolivia and the Alfa Canadon hydrocarbon treatment plant in southern Argentina.

“These contracts of two leading customers in our market, Petrobras and Total, confirm our business plans, which include international diversification and strong growth in EPC engineering of large oil and gas projects,” said TECNA chief executive office Jose Ramon Tiemblo.

The Comperj project, currently under construction, will include two refineries and a number of petrochemical units that will produce ethylene, propylene, polyethylene (PE), polypropylene (PP) and other chemicals.

Petrobras recently announced that start-up of the complex had been delayed until August 2016.

($1 = €0.72)

By: Simon West

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