China-based Wison Engineering, in a consortium with Hyundai Engineering & Construction Co. and Hyundai Engineering Co., has been awarded an EPC contract by Venezuelas PdVSA for its Puerto la Cruz oil refinery.
The total contract value amounts to approximately $2.993 billion, of which Wison Engineering will receive a share equivalent to approximately $927.8 million, it said.
Consortium Hyundai-Wison will carry out engineering, procurement, construction and start-up assistance of the environmental units, auxiliary units and revamp of atmospheric distillation units of the refinerys deep conversion project.
The project will upgrade refinery facilities to process heavy crude oil, with a capacity of 210,000 bpd.
In addition, the contract calls for the expansion of gasoline, diesel and aviation kerosene projects and other facilities. The project is expected to be completed within 42 months from its commencement.
"Venezuela has become one of the key important markets for Wison Engineering as the company focuses on its international business development, said Mr. Dong Hua, vice president of Wison Engineering.
We are very proud to be recognized by PDVSA on our project management capabilities that we have accumulated over the years. In addition, we are very happy to partner with Hyundai in this project at the time we are developing the global market.