New Talara Refinery

Description

The Talara Refinery Modernization Project is a megaproject of engineering and construction, which consists of the installation of new processes units and facilities oriented to improve the quality of the products, increase the production capacity of the refinery and new more complex processes and more advanced technology. The economic and socio-environmental benefits are the following:

  • Desulfurize fuels.
  • Improve the octane rating of naphthas.
  • Process heavier crudes
  • Decrease the production of residuals.
  • Implement new facilities that the Modernized Refinery will require.
  • Produce cleaner fuels

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Components

  • Feasibility study.
  • Environmental management.
  • Social management.
  • Financial Counseling
  • Interest for Financing.
  • FEED - EPC.
  • PMC - PMO.
  • Complementary facilities.
  • Administrative costs of letter of guarantee.
  • Tariffs for materials and equipment.
  • Improved spent soda treatment.
  • Basic services.
  • Sanitation of operating systems.
  • Acquisition of laboratory equipment.
  • Auxiliary units.

Sources of financing: Resources of Petroperu, Contribution of Capital and Financing.

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Physical and financial progress

  1. With Board Agreement No. 014-2018-PP of 02.26.2018, the update of the amount of the investment of the ascending project was approved, amounting to US $ 4,999.8 (Exchange rate of 3,245 S // US $).
  2. LOE (Level of Effort) - Level of Effort: Activity that does not produce definitive final products and that is measured with the passage of time, that is, it does not generate physical progress.
  3. In review of the schedule of the Cobra-SCL UA & TC Consortium.

Current situation

  • Physical advance: 69.81% Real vs 88.32% Scheduled.
  • Técnicas Reunidas (TR) continues to develop the Detail Engineering, Procurement and Construction (EPC) activities.
    • The advance of the obtained engineering was of 99.996% vs 100.0% programmed.
    • The progress of the procurement of equipment amounted to 99.56% vs 99.97% programmed.
    • Construction progress was 79.68% vs. 88.61%.
  • Auxiliary Units and Complementary Works:
    • In April, the advance payment of 110.5 MMUS $ was made to the Cobra-SCL UA & TC Consortium, in accordance with the provisions of the contract. To date, the Service Schedule is reviewed.
    • Federico Villareal School: The real advance amounted to 43.0% vs. 53.9% scheduled. It continues with civil works (foundations, columns, slabs, etc.).
    • Cut of el Faro hill: activities have been suspended since 25.05.18, due to the landslide on the north/east side of El Faro hill. A new contract is managed to remedy the effects of the sliding of the eastern slope.
  • Social Responsibility and Community Relations.
    • In June, technical-productive training began in economic initiatives in favor of 140 women from Talamanca through SENATI; likewise, the process of formalization, granting of seed capital and accompaniment of 60 Talarean women trained in 2017.
    • As of June, the workforce totaled 7,444 jobs. The unskilled local labor had a participation of 85%, surpassing the minimum established in the EIA (70%), while the local skilled labor had a participation of 30%.
  • Financing: the balance as of 06.30.18 of the funds obtained through the international issuance of bonds amounted to 484.9 MMUS $, which are distributed in term deposits in financial institutions (300 MMUS $), liquid funds (175.15 MMUS $) and in current account (9.75 MMUS $).

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