Wood has won a $120m contract from Sinopec Hainan Refining and Chemical Limited Company (Sinopec) to deliver engineering, procurement and construction (EPC) services to expand latter’s refinery development in the Hainan Free Trade Zone (FTZ) in South China.
Following completion, the ethylene renovation and expansion project will generate up to one million tonnes of ethylene derivatives and refined oil on an annual basis.
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The project is expected to improve economic growth in the country’s downstream sector by over CNY100bn ($14.1bn).
Production the Hainan FTZ will cater to the ethylene demand across China and the world.
Wood’s engineering and project management teams based in Shanghai and on site will provide EPC services for the sitewide pipe rack and associated pipework, cables for power, telecommunications and lighting.
Wood executive president of projects Mike Collins said: “We are delighted to win this new contract with Sinopec which demonstrates the strength of our long-standing relationship with the client and their confidence in our extensive EPC expertise in the petrochemical sector.
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By GlobalData“We look forward to continuing our partnership to deliver this project safely, sustainably and on-time, making a positive contribution to this significant development.
“Wood is uniquely placed to leverage our engineering design expertise and global petrochemical track record to play a significant role in the growth of Sinopec’s business and the economic development of Hainan, boosting the local supply chain.”
Wood offers solutions throughout the asset life cycle, right from concept to decommissioning across a broad range of industries including the upstream, midstream and downstream oil & gas, power & process, mining, etc.
In September 2020, Wood secured a $42m contract from Equinor to provide engineering, procurement, construction and installation (EPCI) services at the Kollsnes gas processing plant in Norway.
Equinor awarded the contract on behalf of operator Gassco.
