Here is a round up of some key developments in the engineering, procurement and construction (EPC) sector. In the past seven days we have seen a Technip Heerema consortium secure a USD3.5 billion contract offshore Angola, the NADB providing finance to Mex
A consortium made up of Technip and Heerema Marine Contractors has secured a lump-sum contract valued at USD3.5 billion from Total E&P Angola. Technip and Heerema will deliver the engineering, procurement, construction, installation (EPCI) and pre-commissioning for the SURF part of the Kaombo project, located in Block 32 offshore Angola.
The engineering work will start immediately in the Paris, Leiden (the Netherlands) and Luanda (Angola) with most of the offshore installation activities scheduled for 2016 and 2017. Read more here.
Technip has also won an EPC contract to develop the core process units for Cargil's new ethanol processing plant in Barby, Germany, with works scheduled for the second half of 2015. See more details here.
A joint venture of Hyundai Heavy Industries (HHI), Fluor Corporation and Daewoo Engineering & Construction has won a USD3.4 billion contract from Kuwait National Petroleum Company (KNPC).
The jv will upgrade the daily oil refining capacity of the KNPC's existing Mina Al Ahmadi and Mina Abdullah refinery plant from 736,000 barrels to 800,000 barrels, and will lower the sulfur content of petroleum products to 5 percent. More details here.
The European Investment Bank, as part of a consortium of international banks, has supplied a GBP225 million (USD377.8 million) loan to finance 65 new Hitachi Super Express Trains to be used on the East Coast Main Line between London and Scotland.
Alstom has been awarded a contract worth approximately EUR225 million (USD311.24 million) to provide power generation equipment for the Al-Anbar gas-fired combined-cycle power plant being built in the Anbar province in Iraq. The 1,642 MW power plant, due to be commissioned in 2016, is being built by consortium of Metka SA and Metka Overseas Ltd for the Ministry of Electricity of Iraq. Find more information here.
Alstom also secured a contract with Mexico's Federal Electricity Commission (CFE) to convert two 158 MW units at the Altamira thermoelectric power station in Mexico (more details here), and it signed an exclusive partnership agreement with BFG France to supply of composite structures to produce the nacelle casings for Alstom's Haliade 150-6MW wind turbine. Read more here.
An AREVA joint venture has been selected as preferred bidder for the construction of a waste treatment facility at the Sellafield nuclear power plant in the UK.
The Silos Direct-encapsulation Plant (SDP) project will create a customised waste treatment plant to process legacy materials from Magnox fuel currently present on site. See more here.
AREVA has also been awarded a contract by Korea Hydro & Nuclear Power (KHNP), subsidiary of the Korea Electric Power Corporation (KEPCO) for the supply and the replacement of six stators for the Kori Nuclear Power Plant Units 3 and 4. The delivery and replacement operations are expected to begin in June 2015 and finish in 2018. Find more information here.
The North American Development Bank (NADB) has issued two loans totalling USD140 million for the construction of two wind farms, Ventika and Ventika II, with a total nominal capacity of 252 MW. The wind farms are located in the municipality of General Bravo, Nuevo Leon, approximately 100 miles east of Monterrey, Mexico. More details here.
Petrofac in consortium with Siemens has been awarded a major contract from TenneT, the German-Dutch transmission grid operator, for the BorWin3 offshore wind farm grid connection in the North Sea. Petrofac will be responsible for the construction and offshore installation of the BorWin3 platform, which will house a Siemens high voltage direct current (HVDC) station. Find out more about it here.
The Papua New Guinea government has approved Horizon Oil's proposed USD300 million development of the Stanley gas-condensate field in the country's western province. Read more here.
Voimaosakeyhtiö SF and RAOS Voima Oy have agreed to construct and finance Fennovoima's nuclear power plant in Pyhäjoki, which is planned to come online in 2024. See more information here.
OAO LUKOIL has signed a purchase and sale agreement that allows the company to sell its 50 percent stake in the Caspian Investment Resources Ltd to China's Sinopec. The total price of the shares for sale will be around USD 1.2 billion. Read about it here.
BP America Production Co has said it intends to divest assets in the Hugoton and Panhandle West fields in Sherman and Moore counties in the Texas Panhandle.
Laclede Group Inc Louis has entered into an agreement with Energen Corp to acquire 100 percent of its subsidiary Alabama Gas Corp for USD1.6 billion, with an effective purchase price of USD1.34 billion. Find more details here.