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Neste Jacobs to Implement Borealis' Multi-million Steam Cracker Upgrade Investment in Sweden

ESPOO, Finland, Sept. 16, 2014 (GLOBE NEWSWIRE) -- Technology, engineering and project management company Neste Jacobs and Borealis, a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers, have signed an agreement for Neste Jacobs to deliver the EPCM services for the upgrade of the process section part of Borealis' steam cracker to enable increased ethane cracking in Stenungsund, Sweden. The steam cracker is one of the most feedstock-flexible in Europe and in addition to ethane, it can also crack naphtha, propane and butane.

Borealis will import ethane from the United States for the upgraded steam cracker at Stenungsund, which is designed to produce 625.000 Mt/year of ethylene. Borealis is investing a combined 120 Million Euros in the storage tank and an upgrade of the cracker, to enable the plant to use more ethane.

Neste Jacobs carries out the project from its offices in Gothenburg, Sweden and Porvoo, Finland.

"For us the agreement with Borealis is a prominent sign of confidence, which we are proud of", says Jarmo Suominen, Managing Director of Neste Jacobs. "We are aiming to be the preferred solution provider also for hydrocarbon industry. This unique enhanced ethane cracking implementation project reinforces this position and it is a matter of honour for us that Borealis has chosen Neste Jacobs to be their partner."

"We chose Neste Jacobs to be the EPCM provider in the process section of our upgrade project as we have years of experience from their excellent quality and delivery reliability", says Pål Theie, Managing Director of Borealis AB. "We have trusted several EPCM projects in Neste Jacobs' professional hands and are confident that this one will be yet another success."

For more information, please contact:

Jarmo Suominen, Managing Director, Neste Jacobs Oy, tel + 358 50 458 3399
Pål Theie, Managing Director, Borealis AB, Stenungsund, tel + 46 303 861 11

Neste Jacobs is a preferred solution provider of high-quality technology, engineering and project services for a wide range of industries in the oil and gas, petrochemicals, chemicals and biotechnology fields. We have more than 50 years of experience in technology development and industrial investment projects as well as maintenance and performance improvement in Europe, North and South America, Asia and the Middle East. In addition to the Nordic countries we are looking to grow in the expanding markets of the Middle East and Russia in particular. We employ more than 1.000 professionals globally.
www.nestejacobs.com

Borealis is a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers. This year, Borealis already celebrates its 20th anniversary. With headquarters in Vienna, Austria, Borealis currently employs around 6,400 and operates in over 120 countries. It generated EUR 8.1 billion in sales revenue in 2013. The International Petroleum Investment Company (IPIC) of Abu Dhabi owns 64% of the company, with the remaining 36% owned by OMV, the leading energy group in the European growth belt. Borealis provides services and products to customers around the world in collaboration with Borouge, a joint venture with the Abu Dhabi National Oil Company (ADNOC).
www.borealisgroup.com

HUG#1856112

Source:Neste Oil Corporation