Chinese chemical engineering, procurement and construction (EPC) company Wison Engineering has received an EPC contract from Venezuela's state-run oil company PDVSA Petroleo (PDVSA) for the Puerto la Cruz oil refinery, located about 250km east of the Venezuelan capital, Caracas.
Hyundai Engineering & Construction and Hyundai Engineering will also participate in the refinery project as Consortium Hyundai-Wison.
The value of the contract is expected to be nearly $2.993bn, of which Wison will receive a share of $927.8m.
Hyundai-Wison will carry out EPC and start-up assistance of the environmental units, auxiliary units and a revamp of the atmospheric distillation units at the Puerto la Cruz refinery.
The consortium will upgrade refinery facilities to process heavy crude oil, with a capacity of 210,000bpd, as well as expand diesel, gasoline and aviation kerosene projects and other facilities.
Dong Hua, Wison Engineering vice president, said Venezuela has become one of the key important markets for Wison Engineering as the company focuses on its international business development.
''We are very proud to be recognised by PDVSA on our project management capabilities that we have accumulated over the years,'' Hua added.
The consortium is expected to complete the project within 42 months from the date of commencement.