Technip signs USD 1 bn+ contract for Assiut refinery

Technip signs USD 1 bn+ contract for Assiut refinery: French construction firm Technip has signed an engineering, procurement and construction contract worth more than USD 1 bn to build a hydrocracking complex for the Assiut Oil Refining Company, Technip said in a statement. The complex will produce around 2.8 mn tons of clean petroleum products each year using mazut as feedstock. Technip did not specify the exact value of the contract but defined it as a “major” project worth more than USD 1 bn. The company signed an initial agreement with Enppi, Petrojet and the Assiut National Oil Processing Company earlier this year for the project.