Neste Oil plans to invest 42 million in improving the energy efficiency and operational reliability of its Porvoo refinery in Finland, the company announced on Friday.
As part of the investment, fired heaters at the refinery's crude distillation unit will be replaced with new-generation heaters, which will help ensure more consistent, incident-free operations at the site and yield annual energy savings worth an estimated 4 million.
Our aim is to continually improve energy efficiency, and the new project will further enhance energy usage at the Porvoo refinery, which is already one of Europe's most energy-efficient refineries," said Ilkka Poranen, senior vice president of production and logistics for Neste Oil.
The investment will also ensure good operational reliability and productivity at the refinery's crude distillation unit.
The project will begin immediately, and the new heaters will be commissioned during the refinery's next major maintenance turnaround scheduled for 2015.
Neste Oil's engineering subsidiary, Neste Jacobs, will act as the lead contractor for the project.