UK-based TechnipFMC has won a contract from Long Son Petrochemicals (LSP) for the licensing, EPC, commissioning and start-up of Vietnam’s first olefins plant on Long Son Island in Ba Ria-Vung Tau province.
According to TechnipFMC, the contract is valued between $500m and $1bn.
Olefins belong to a class of molecules, including ethylene and propylene, which constitute the raw material for the manufacture of plastics.
The plant has been designed as a flexible feed cracker, which can utilise naphtha and liquefied petroleum gas (LPG) to produce 1.6 million tonnes of olefins per year based on the feedstock mix. The olefins are expected to help meet Vietnam’s demand for petrochemical products.
It will also include proprietary licensed units, such as C3 hydrogenation, C4/C5 hydrogenation, pyrolysis gasoline hydrogenation and butadiene recovery units, and will be based on TechnipFMC’s ethylene technology.
TechnipFMC’s proprietary ethylene technology includes ultra selective conversion (USC) furnaces preferred for high selectivity and low cost; and heat-integrated rectifier system, preferred for energy efficient ethylene recovery.
The company will execute the project in a consortium with SK Engineering & Construction of South Korea.
As a global company, TechnipFMC will lead the consortium and execute all engineering, in addition to the procurement of critical equipment from its operating centres in Houston (US), Rome (Italy) and Kuala Lumpur (Malaysia).
TechnipFMC onshore/offshore business president Nello Uccelletti said: “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 is an addition to the list of TechnipFMC’s references of onshore achievements in Vietnam, particularly the country’s first oil refinery, the Dung Quất Refinery, and the Phu My Fertilizer Complex.
TechnipFMC provides services for subsea, onshore/offshore, and surface projects.
Image: TechnipFMC wins contract for largest olefins plant in Vietnam. Photo: courtesy of supakitmod/FreeDigitalPhotos.net.