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Italy's Economic Diplomacy, 22 October: latest news from the world



Italy's Economic Diplomacy, 22 October: latest news from the world

THAILAND: Saipem wins a new contract with Thai Oil Public Limited Company (ThaiOil) to expand the Sriracha refinery

Saipem, in consortium with Petrofac and Samsung, won a new 4-billion-dollar E&C Onshore contract in Thailand to expand the Sriracha refinery.  The contract was awarded by Thai Oil Public Limited Company (ThaiOil), a subsidiary of Petroleum Authority of Thailand Public Company Limited (PTT PLC), Thailand’s national oil & gas company. Saipem’s stake in the contract amounts to roughly 1.4 billion USD. Sriracha, which is presently the largest refinery in the Country, is located in Chonburi province, along the eastern coast of the Gulf of Thailand. The contract includes engineering work, the purchase of materials, the construction and start-up of new production units and the upgrade of existing facilities. It falls under the Clean Fuel Project (CFP) promoted by ThaiOil to produce higher-quality fuels and increase the production capacity of the Sriracha refinery from 275,000 barrels to 400,000 barrels a day. The project stands out because of the technology, the complexity of implementation and breakthrough technical solutions in the oil refining sector.

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