Foster Wheeler Power Systems Inc. and Chile's state owned Petrox SA have formed a company to develop a $180 million refinery revamp and cogeneration project in Chile.
The new complex will adjoin the Petrox operated 71,000 b/d refinery at Talcahuano, one of two active refineries in Chile owned by national petroleum company Empresa Nacional de Petroleo (ENAP).
Plans call for installation of a delayed coker and hydotreater to upgrade resid into fuel gas, liquefied petroleum gas, naphtha, diesel oil, gas oil, and petroleum coke. The coke will fuel two Foster Wheeler designed circulating fluidized bed boilers to generate steam, treated water, and electric power.
Project construction will take about 3 years, with start-up expected in first half 1996.
The new company, Petro Power Ltd. (PPL), will conduct a final feasibility study for the project. Foster Wheeler Power, the project financing unit of Foster Wheeler Corp., Clinton, N.J., has a 50% interest in PPL, with ENAP and Petrox holding 25% each. When project feasibility is confirmed, the three will form an operating company to oversee the project.
Foster Wheeler Iberia SA, Madrid, will be engineering/construction contractor, Foster Wheeler Power will operate the cogeneration plant, and Petrox the coker and hydrotreater.
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