The Mostorod refinery is situated close to Cairo and is already certainly one of Egypt’s largest refineries, with a throughput of 142,000 barrels per day (bpd).
As part of an ongoing programme by the Egyptian Government (Egyptian Ministry of Petroleum) to extend the oil-processing capacity of the country, the location is now being developed with a further refinery being constructed adjoining to it (the Citadel refinery).
The federal government has plans to increase production of lighter products, petrochemicals and better-octane gasoline products by expanding and upgrading current amenities.
In addition, there are plans to build 5 new refineries and petrochemical plants valued at $2.5bn. Egypt’s refineries have already got the capacity to course of more than 546,000bpd of crude.
Mostorod refinery historical past and capacities
The Mostorod refinery has a working capability of 142,000bpd and a design capacity of only one hundred fifteen,000bpd.
The refinery is operated by the Cairo Oil Refining Co (CORC), a unit of the Egyptian General Petroleum Corp (EGPC), and first got here onstream in 1973.
It produces a variety of products, together with LPG, gasoline, naphtha, propane and gasoline fuel. A vapour recovery unit on the refinery came onstream in 1985 with a processing capacity of 74,000t per 12 months of LPG, 286,000t per year of naphtha, 26,000t per 12 months of propane and 15,000t per year of fuel gasoline.
On the refinery there can be a light naphtha isomerisation unit producing 330,000t per 12 months of high-octane unleaded gasoline and a hydrotreating unit, both of which use processing technology licensed by UOP LLC (subsidiary of Honeywell) of the US. It has been put in at Mostorod, together with a state-of-the-art control system, a energy distribution network and a hearth protection system.
Normal utilities had been additionally upgraded in 2000 as part of a mission completed by EGPC’s engineering unit ENPPI (Engineering for the Petroleum and Process Industries).
New Citadel refinery
The new Citadel refinery at the Mostorod Petroleum Complex is being constructed in an industrial area situated 10km to the north of Cairo, on land that was provided by the CORC.
The brand new undertaking requires an investment of $three.7bn and preparatory work began on the mission in September 2007. The mission will employ about 10,000 staff throughout construction phases.
The construction is anticipated to start in 2013 and the plant is scheduled to be operational by the end of 2016.
The venture administration consultant is WorleyParsons of Australia and the main EPC contract value $1.8bn was awarded in August 2007, to the JV of Mitsui of Japan and GS Engineering & Construction of South steam, heat conduction oil jacket heating reaction kettle Korea. GS will carry out the engineering and development factor, with Mitsui providing procurement providers.
The plant will include a two-million-tonnes-a-12 months unit for the production of excessive-high quality diesel. The opposite advanced units will include an 80,000bpd vacuum distillation unit (VDU), along with a forty,000bpd hydrocracker that can rework decrease-high quality merchandise into the center distillates which are in excessive demand. The crude distillation items are being constructed by ENPPI.
Annual capability on the refinery will be five million tonnes or (a hundred,000bpd) of refined merchandise (2.5 million tonnes of diesel oil when the advanced is complete).
Financial backing for the Egyptian refinery
The plant will be operated by the Egyptian Refining Company (ERC) along with CORC. The undertaking is being financed by a debt / fairness cut up of about sixty five:35 (debt from medium and long-term financial institution loans).
Morgan Stanley and Societe Generale are the monetary advisers on the mortgage. Citadel Capital, an Egyptian non-public equity agency, is providing the fairness.
Citadel owns eighty five% of the ERC and EGPC has 15%. Swicorp Joussour, based in Riyadh, additionally acquired a stake in the new refinery in January 2008 worth $200m.
In August 2010, ERC signed an settlement with Export Credit Agencies and Improvement Financial Establishments for a debt package deal of $2.35bn. The company additionally signed an agreement with Mitsui and the African Growth Bank for a subordinated mortgage of $225m.