Press

Hedge Funds On A Roll, But Underlying Problems Remain


Wood has secured a new engineering, procurement, construction management (EPCm) contract to deliver a major expansion at INOVYN's Rafnes plant in Telemark, Norway.

The company will support the Vinyl Chloride Monomer (VCM) project to increase production capacity at the onshore chemical plant by around 70 kilo tonnes a year. Detailed engineering, procurement, installation management and package and fabrication follow-up are included in the 18 month contract, which is effective immediately.

Wood has been supporting INOVYN's portfolio for 30 years. This latest contract extends the company's footprint in the onshore downstream sector in Europe.

The VCM project comprises installation of a new oxychlorination reactor weighing more than 300 tonnes and including 4 kilometres of pipeline, and a High Temperature Direct Chlorination module (HTDC) alongside various debottlenecking activities and modifications. 

Dave Stewart, CEO of Wood's Asset Solutions business in Europe, Africa, Asia & Australia said: "We are strategically focused on leveraging our extensive offshore experience to broaden our downstream footprint across Europe.

"We look forward to partnering with INOVYN to deliver this major project to significantly extend this key asset in their Nordic hub. Our commitment is to harnessing Wood's global EPCm experience supporting onshore sites, innovative solutions and strong knowledge of the Norwegian sector to deliver efficiently, safely and successfully."


Visit source site

https://woodplc.com/investors/financial-and-regula...

WoodNorwayonshoreChemical Plant

More items from oilvoice


Petrofac: Completion of Sale of 49% of Mexico Operations

Petrofac has completed the sale of 49% of the Company's operations in Mexico to Perenco (Oil & Gas) International Limited (“Perenco”), following approval from the Federal Competition Commission of Mexico (COFECE). Under the terms of the sale, announced on 30 July 2018, Petrofac has been paid an in ...

OilVoice Press - OilVoice


Posted 2 days agoPress > PetrofacDivestmentMexico +2

Petrofac: Completion of Sale of 49% of Mexico Operations

Petrofac has completed the sale of 49% of the Company's operations in Mexico to Perenco (Oil & Gas) International Limited (“Perenco”), following approval from the Federal Competition Commission of Mexico (COFECE).

OilVoice Press - OilVoice


Posted 2 days agoPress

Rystad Energy's Oilfield Service Newsletter: FPSO Market Alive and Making Strides Again

The global floating production market has stirred back to life after enduring a couple years in virtual hibernation during the downturn. Last year brought some relief to the market, with six new FPSO orders worldwide , and with oil prices recovering to around $80 per barrel this year, combined w ...

OilVoice Press - OilVoice


Posted 2 days agoOpinion > Rystad EnergyOilfield ServicesFPSO +4

Equinor Further Focuses NCS Portfolio

Equinor has signed an agreement with PGNiG to sell its non-operated interests in the Tommeliten discovery on the Norwegian Continental Shelf (NCS) for a total of USD 220 million. Tommeliten Alpha is a gas/condensate discovery that was made in 1976. Through this transaction Equinor will dives ...

OilVoice Press - OilVoice


Posted 2 days agoPress > NCSNorwegian Continental ShelfOffshore +7

SDX Energy, Far Ltd

SDX Energy SDX has announced that the discussions with BP re a significant package of assets have been terminated by ‘mutual agreement' and the suspension of the shares has been lifted. Paul Welch, CEO said he was ‘clearly disappointed that the transaction had not materialised' and that ‘we are ...

OilVoice Press - OilVoice


Posted 2 days agoOpinion > MalcyMalcysMalcy's +4
All posts from oilvoice