Thursday, global engineering, construction and services company KBR, Inc. (KBR) said it was awarded a contract by Hindustan Petroleum Corporation, to provide license, engineering services and proprietary equipment for augmenting the capacity of an existing de-asphalting unit for its Mumbai Refinery in India.
KBR will perform reconstruction on an existing propane de-asphalting unit or PDA using its proprietary ROSE technology and state-of-the-art ROSEMAX internals to achieve increased production of oil, the key objective of improving refinery margins. This contract also has the particular importance of being KBR's 50th ROSE license worldwide. KBR's ROSE technology processes more than one million barrels per day, of feedstock annually. KBR is headquartered in Houston, Texas, the energy capital of the world.
HPCL is one of the largest Oil Refining and Marketing companies in India with refineries in Mumbai and Visag. A third refinery project of the company is being implemented in Punjab in Northern India in joint venture with Mittal Energy Investment Pte. The Mumbai refinery is being upgraded to increase distillates, particularly automotive fuels production. The reconstruction of PDA unit is a part of its project upgradation.
John Rose, Group President, KBR Hydrocarbon said, "This award is a great milestone for KBR as it is a testament to the company's track record of high-quality work in this market. We are proud to partner with HPCL and we are confident that KBR's expertise in this area will lead to the successful completion of its facility upgrade."
KBR closed Thursday's regular trading at $23.23 down $0.13 or 0.56% on a volume of 2.30 million shares on the NYSE.
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