Turkey's TUPRAS, Spanish firm agree on residuum upgrading project

TUPRAS had said earlier that the project calls for an investment of around 1.8 billion USD.

Turkey's TUPRAS, Spanish firm agree on residuum upgrading project

Turkey's leading oil refining company has agreed with a Spanish engineering contractor for its residuum upgrading project, the company said on Friday in a regulatory filing.

Negotiations between the Turkish Petroleum Refineries Corporation (TUPRAS) and Tecnicas Reunidas have been continuing since last November for the upgrading of the Izmit refinery.

The project aims at boosting distillation and conversion capacity to allow the refinery to process crude oil with high sulphur contents, while adapting the refinery to European Union environmental standards.

TUPRAS had said earlier that the project calls for an investment of around 1.8 billion USD and that it expects the work to be completed within five years.



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Last Mod: 18 Aralık 2009, 11:06
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