Staatsolie Maatschappij Suriname Awards Saipem Contract for Refinery Expansion Project

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Researched by Industrial Info Resources (Sugar Land, Texas)--Italian company Saipem SpA (OTC:SAPMY) (Milan, Italy) has been selected to construct new units at the 7,000-barrel-per-day (BBL/d) Staatsolie refinery in Paramaribo, Suriname.

Staatsolie Maatschappij Suriname, owner of the Staatsolie Refiney, awarded Saipem the engineering, procurement and construction (EPC) contract for the $800 million expansion project, which will bring eight new processing units online.

A new 8,000-BBL/d vacuum distillation unit, a 10,000-BBL/d hydrocracker and other will be online by 2013. The Staatsolie Refinery has only two operational currently: the vacuum and visbreaker. Once the project is completed, the refinery will have a processing capacity of 15,000 BBL/d. For additional details, see related May 31, 2010, article - Staatsolie Maatschappij Suriname Proceeds with $800 Million Expansion at Staatsolie Refinery.

Saipem SpA is subsidiary of Eni SpA (NYSE:E) (Rome, Italy). The company provides EPC services and has a turnover of approximately $14 billion per year.

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