China's Wison wins Venezuela refinery upgrade project

Release time：2012-06-27 Media sources：Reuters

(Reuters) - China's Wison Engineering Ltd said on Wednesday it won a contract to upgrade Venezuela's 210,000 barrel per day Puerto la Cruz refinery to process heavy crude.

The project, which is expected to be completed within 42 months after it is launched, also calls for the expansion of the refinery's facilities that produce gasoline, diesel and jet fuel, Wison said in a press release. The release did not specify when the project would begin or further details of the project. The total value of the contract -- which will be performed by a consortium between Hyundai Engineering & Construction Co and Wison -- for the work at the plant will be nearly $3 billion.

This year state-owned PDVSA's local refining network, which has a capacity of more than 1.3 million bpd, has largely overcome the frequent outages and halts for maintenance seen in 2011. The plants run crude produced in Venezuela, which pumps high volumes of heavy oil. (Reporting by Matthew Robinson; Editing by Marguerita Choy)

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Copyright (2012) Thomson Reuters.

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