Saudi Arabia  - Maire Tecnimont, a leading Italian contractor in the energy sector, has announced that two of its integrated E&C solutions units - Tecnimont and Tecnimont Arabia - have been awarded two lump-sum turn-key EPC contracts related to a petrochemical expansion at the Satorp Refinery in the Kingdom of Saudi Arabia.

The Satorp petrochemical facility is a joint venture between Saudi oil giant Aramco and French multi-energy company TotalEnergies that will enable conversion of internally produced refinery off-gases and naphtha, as well as ethane and natural gasoline, into higher value chemicals.

The contracts, which are worth $2 billion, relate to the execution of two packages of the complex, namely the “Derivatives Units” package – which includes a butadiene extraction unit, an olefin extraction unit, a methyl tert-butyl ether unit, a butadiene selective hydrogenation unit, a 2nd stage pygas hydrogenation unit and benzene & toluene extraction unit – and the “High Density Polyethylene (HDPE) & Logistic Area” package, which includes two polyethylene units and the relevant product logistic facilities.

The project scope includes complete engineering services, equipment and material supply, construction activities, pre-commissioning, and commissioning and the entire work will be completed in four years.

On the contract win, Maire Group CEO Alessandro Bernini said: "We are extremely proud of having been selected by Saudi Aramco and TotalEnergies for this major initiative. It is a further recognition of Tecnimont’s world-class capabilities to execute complex projects in complex environments, as well as our undisputed leadership in downstream petrochemicals."

"These awards will provide a significant addition to our already large €8-billion backlog, increasing revenues visibility in the short- and medium-term. It is also for these reasons, and in a context of continued robust demand, that we keep investing in talent, with almost 600 new engineers added year to date," stated Bernini.

With this contract win, the group’s year-to-date order intake has risen to over €2.6 billion (including approximately €200 million related to the contract for a fertilizer plant in Egypt, subject to successful execution of the client’s financing package).

Considering the important commercial prospects in the coming months, a very strong second half is expected, which will provide a solid driver to the Group’s growth this year and beyond, he added.

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