UK-based TechnipFMC announced on Wednesday that it has signed a major Engineering, Procurement, and Construction (EPC) contract with Assiut National Oil Processing Company (ANOPC) for a new hydrocracking complex at the Assiut refinery in Egypt.

The contract value wasn't disclosed but for TechnipFMC, a 'major' contract is over $1 billion, according to a company statement.

The complex will transform lower-value petroleum products from Assiut Oil Refining Company's (ASORC) nearby refinery into approximately 2.8 million tonnes per year of cleaner products, such as Euro 5 diesel, the statement noted.

"Assiut is considered one of the major strategic projects needed to meet growing local demand for cleaner products," said Catherine MacGregor, President of Technip Energies.

The EPC contract covers new process units such as a Vacuum Distillation Unit, a Diesel Hydrocracking Unit, a Delayed Coker Unit, a Distillate Hydrotreating Unit as well as a Hydrogen Production Facility Unit using TechnipFMC's steam reforming proprietary technology. The project also includes other process units, interconnecting, offsites and utilities.

The company had earlier executed the FEED contract for the project, the statement said.

(Writing by Madhura Deulgaonkar; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

#TechnipFMC #Egypt #EPC # Assiut #ANOPC

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