Petrocarabobo lets FEED contract for upgrader

Petrocarabobo SA let a lump-sum contract to Technip for the basic front-end engineering design (FEED) and the first phase of project management consultancy services for a 200,000 b/sd crude oil upgrader to be built in Venezuela’s Faja del Orinoco region.

Technip’s operating center in Rome will execute the contract in collaboration with Petroleos de Venezuela SA (PDVSA). The contract activities are scheduled to be completed by first-half 2014.

Petrocarabobo is a joint venture of PDVSA (60%) and other business partners including Spain’s Repsol, Malaysia’s Petronas, and India’s Oil & Natural Gas Corp.