NIS has taken a new step towards modernizing its processing plants and signed an agreement on the procurement of state-of-the-art INDMAX technology and a basic design for the modernization of the fluid catalytic cracking (FCC) with the renowned international company Lummus Technology (member of McDermott Group).
23 December 2019The agreement, which is part of a project valued at around USD 80 million, was signed at the Business Centre of the Company in Belgrade by Vladimir Gajić, Head of NIS Refining Block, and Maurice Korpelshoek, Technology Marketing Director of Lummus Technology.
The implementation of this project will bring numerous business and environmental benefits to NIS. New technologies will help increase propylene production, and a plant for the production of ETBE (high octane gasoline component) will be built, which will further increase the value of the refinery products portfolio. In addition, the project realization, planned by the second quarter of 2024, will improve environmental protection through the reduction of particulate emissions, and will also enable more efficient production of bio-gasoline.
“NIS operates in a very demanding regional market of petroleum products and that is why it is our commitment to strengthen the competitiveness of the Pančevo Oil Refinery through continuous modernization. The procurement of new technology and the construction of a new plant at the Refinery are new steps towards increasing the value of our product portfolio, and the environmental effects that we will achieve are equally important to us. It is our great pleasure to cooperate with a reputable company such as Lummus Technology, our long-standing partner in the modernization of NIS, on this significant project“.
NIS has been cooperating with Lummus Technology for many years. The MHC/DHT complex (for mild hydrocracking and hydrotreating), a key project of the first stage of the Refinery’s modernization process, and the Delayed Coking Unit, as the capital project of the second stage of the modernization of NIS’s production facilities, were built under the licenses of Lummus Technology. The Pančevo Oil Refinery is one of the most modern refineries in this part of Europe, with a maximum annual installed refining capacity of 4.8 million tonnes.
The second stage of modernization is currently underway at the Pančevo Oil Refinery, and the key project is the construction of a Delayed Coking Unit (DCU) that utilises the bottom-of-the-barrel technology, estimated at EUR 300 million.
