Bahrain Petroleum and Neste Oil Award EPC Contract for Lube-Oil Plant

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Researched by Industrial Info resources (Sugar Land, Texas)--Bahrain Petroleum Company (Awali, Bahrain) & Neste Oil Corporation (HEL:NES1V) (Espoo, Finland) has selected Samsung Engineering Company Limited (SEO:028050) (Seoul, Korea) to perform engineering, procurement, and construction services for a proposed lube-oil plant located at the companies' Sitrah Refinery. The plant will have the capacity to process about 8,500 barrels per day (BBL/d) of lube oil with a very high viscosity index for use in blending top-tier lubricants. The plant will allow Neste, which will be responsible for the sales and marketing of the product, to extend its business in base oils. Construction is expected to commence early in 2009 and last about 24 months.

Bahrain Petroleum Company is wholly owned by the government of Bahrain, which assumed 100% ownership of the refinery in 1997. The company engages in exploration and prospecting for oil, drilling, production, refining, distribution of petroleum products and natural gas, and sales and exports of refined products. Bahrain Petroleum has a 250,000-BBL/d refinery that markets to the Middle East, India, the Far East, Southeast Asia and Africa.

Neste Oil Corporation is a refining and marketing company that has five business divisions: oil refining, biodiesel, specialty products, oil retail and shipping. Neste Oil's two wholly owned refineries have a refining capacity of approximately 250,000 BBL/d. The refineries are both located 20 kilometers from Porvoo, toward Helsinki and Naantali, Finland. The company's sales totaled $16.1 billion in 2007, and it employs around 4,800 people.

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