ESPOO, Finland, Oct. 13, 2014 (GLOBE NEWSWIRE) -- Technology, engineering and project management company Neste Jacobs has been chosen as the EPCM contractor to implement the new SDA (Solvent De-Asphalting) unit at Neste Oil's Porvoo refinery. Neste Jacobs will provide Project Management, Engineering, Procurement and Construction Management services to the project.
Costing EUR 200 million, SDA unit will improve Neste Oil's production structure and ability to optimize its crude oil slate, and is due to be completed in 2017.
In addition at Naantali, Neste Oil plans simplifying the structure of the refinery and investing approx. EUR 60 million in various utility-related enhancements. Neste Jacobs will provide Basic Engineering on these projects which are due to be completed in early 2015.
"This is, once again, a sign of Neste Oil's trust towards Neste Jacobs' ability to provide solutions in units which require excellent competences and include best available technologies", says Jarmo Suominen, Managing Director of Neste Jacobs. "Naturally these projects are also a great add-on to our track record, when we are aiming to be the preferred solution provider for the hydrocarbon industry."
"We wanted a solution provider with indisputable proofs when it comes to these kind of projects, which demand high-end and high quality expertise and reliability", says Matti Lehmus, Executive Vice President, Oil Products of Neste Oil. "We have wide-ranging experience of Neste Jacobs' performance in carrying out large, complex and top-demanding projects and are convinced that these assignments will also be a success."
Neste Oil Oyj has informed about the investments mentioned above in the stock exchange release on 7th October.
For more information, please contact:
Jarmo Suominen, Managing Director, Neste Jacobs Oy, tel. + 358 50 458 3399
Matti Lehmus, Executive Vice President, Oil Products, Neste Oil Oyj, tel. +358 50 458 4072
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
Neste Oil Corporation is a refining and marketing company concentrating on low-emission, high-quality traffic fuels. The company produces a comprehensive range of major petroleum products and is the world's leading supplier of renewable diesel. Neste Oil had net sales of EUR 17.5 billion in 2013 and employs around 5,000 people, and is listed on NASDAQ OMX Helsinki. Neste Oil is included in the Dow Jones Sustainability World Index, and has featured in The Global 100 list of the world's most sustainable corporations for many years. Forest Footprint Disclosure (FFD) has ranked Neste Oil as one of the best performers in the oil & gas sector. Further information: www.nesteoil.com
Source:Neste Oil Corporation