Technip to Provide Proprietary Equipment for S-Oil’s Refinery in South Korea

Regulatory News:

Technip (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY) was awarded a contract by Daelim Industrial Company⁽¹⁾ to provide proprietary equipment for the world’s first commercial High Severity Fluid Catalytic Cracking (HS-FCC™) unit. The HS-FCC cracks heavy hydrocarbons into lighter olefins such as propylene and lighter fuels such as gasoline. It will be constructed as part of the expansion of the existing residue conversion facilities at the S-Oil⁽²⁾ refinery in Onsan, South Korea.

The proprietary equipment provided by Technip includes an innovative downflow reactor, the key component of the HS-FCC technology.

Stan Knez, President, Technip Stone & Webster Process Technology, commented: "We continually develop our proprietary equipment designs to ensure clients receive maximum value from their investment. This is particularly important when new advanced technology such as the HS-FCC⁽³⁾ is employed.”

This award results from Technip’s strong expertise in technology and equipment, which is part of its strategic focus to provide an integrated offering, as a broad-based oilfield services and equipment company.

⁽¹⁾ Engineering, procurement and construction contractor for the project.
⁽²⁾Established in 1976, S-Oil has grown into one of the most competitive oil refiners in the Asia-Pacific region. The company operates an oil refinery facility with a capacity of 669,000 barrels per day, and other facilities that can produce petrochemicals and lube base oil in the Onsan Refinery in Ulsan.
⁽³⁾HS-FCC was developed by an alliance comprising Saudi Aramco, JX Nippon Oil & Energy Corp, King Fahd University of Petroleum and Minerals; the technology is licensed by Technip Stone & Webster Processing Technology and Axens; this first unit was licensed by Axens.

Technip is a world leader in project management, engineering and construction for the energy industry.
From the deepest Subsea oil & gas developments to the largest and most complex Offshore and Onshore infrastructures, our close to 34,400 people are constantly offering the best solutions and most innovative technologies to meet the world’s energy challenges.
Present in 45 countries, Technip has state-of-the-art industrial assets on all continents and operates a fleet of specialized vessels for pipeline installation and subsea construction.
Technip shares are listed on the Euronext Paris exchange, and its ADR is traded in the US on the OTCQX marketplace as an American Depositary Receipt (OTCQX: TKPPY).

More information
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