Duro Felguera wins new contract in Bahrain for 12.5 million dollars
Thursday, January 19 2017 - 03:59 AM WIB
(18 January 2017)--DF, through Felguera-IHI (a company belonging to the Oil & Gas division), has won a new contract for almost 12.5 million dollars. The project will be carried out in Bahrain, a new market for DF and which helps reinforce the Group?s international expansion in the Middle East, where it successfully concluded a recent project in Saudi Arabia.
Under this contract Felguera-IHI will build two cryogenic storage tanks to expand Sitra Storage Facilities for the Bahrain National Gas Expansion Company SPC (BNGEC), capable of holding 100,000 and 200,000 barrels of butane and propane, respectively. The contract is an EPC turnkey contract and will take twenty months to complete.
The project falls within the framework of the last phase of the company?s strategic plan to triplicate production of the natural gas extracted from the adjacent fields and the excess from the annexed refinery at the LPG plants. BNGEC has awarded the EPC contract for the expansion of Sitra Storage Facilities to the main contractor JGC Gulf International Co. Ltd in Saudi Arabia, which is a subsidiary of JGC Corporation based in Yokohama, Japan. JGC Gulf International Co. Ltd has awarded the tank works to Felguera-IHI.
First project in Bahrain
This will be the first project that Felguera-IHI has carried out in this country in the Middle East, although it does have references in other countries in the area, such as Saudi Arabia, Jordan and Iran.
Felguera-IHI, jointly owned by DF and the Japanese company IHI Corporation, is the largest Spanish company in storage solution and LNG and LPG cryogenic tanks. The Group has built 25% of all this kind of tanks in the whole world, making it one of the major specialists in this industry.
Contract in Chile
In addition to the contract with BNGEC, DF Oil & Gas has won another engineering contract with ICSK for a cryogenic tank for ENAEX in Chile, a highly consolidated market for DF. The company will carry out the Front End Engineering Design (FEED) for various different process and storage alternatives at the plant in Chile. The value of the project is over 700,000 dollars. (ends)