TechnipFMC wins a large contract for Vietnam’s largest Olefins Plant

LONDON & PARIS & HOUSTON–(BUSINESS WIRE)–TechnipFMC (Paris:FTI) (NYSE:FTI) (ISIN:GB00BDSFG982) has been awarded by Long Son Petrochemicals Co., Ltd. (LSP), a large⁽¹⁾ contract for the licensing, engineering, procurement, construction, commissioning and start-up of Vietnam’s first olefins⁽²⁾ plant on Long Son Island, Ba Ria-Vung Tau province, Vietnam.

Designed as a flexible feed cracker, the olefins plant can utilize both naphtha and LPG⁽³⁾ feeds to produce olefins of up to 1.6 million tons per year depending on the feedstock mix. The olefins will help meet Vietnam’s rising demand for petrochemical products. The plant will also include proprietary licensed units⁽⁴⁾ and will be based on TechnipFMC’s proprietary ethylene technology⁽⁵⁾.

TechnipFMC is executing the project in a consortium with SK Engineering & Construction Co., Ltd. of South Korea. TechnipFMC is the leader of the consortium and, as a global company, will execute all engineering, as well as the procurement of critical equipment from its operating centers located in Houston, USA, Rome, Italy and Kuala Lumpur, Malaysia.

Nello Uccelletti, President of TechnipFMC’s Onshore/Offshore business, commented: “Our reliable proprietary ethylene technology and proven engineering, procurement and construction capabilities were key factors in this important, highly competitive award and confirms our leadership in this market. TechnipFMC will ensure, with SK Engineering & Construction, that this ambitious mega project is successfully delivered on time and on budget, meeting the highest safety and quality standards”.

The contract adds on to the remarkable list of TechnipFMC’s references of onshore achievements in Vietnam, in particular the country’s very first oil refinery, the Dung Quất Refinery and the Phu My Fertilizer Complex.

^{(1 )}For TechnipFMC, a “large” contract ranges between $500 million and $1 billion (TechnipFMC share).
⁽²⁾Family of molecules including in particular ethylene and propylene, which constitutes the raw material allowing for the manufacture of many plastics.
⁽³⁾LPG: liquefied petroleum gas.
⁽⁴⁾C3 hydrogenation, C4/C5 hydrogenation, pyrolysis gasoline hydrogenation and butadiene recovery units.
⁽⁵⁾The proprietary ethylene technology includes these key components:

• Ultra Selective Conversion (USC®) furnaces preferred for high selectivity and low cost,
• Heat-Integrated Rectifier System®, preferred for energy efficient ethylene recovery