Technip Energies Wins Contract for New Naphtha Cracking Unit at IOCL's Paradip Site

Technip Energies (PARIS:TE) has secured a substantial contract from Indian Oil Corporation Limited (IOCL). This contract, valued between €50 million and €250 million, will be recorded in the Q2 2024 order intake and added to the Technology, Products, and Services (TPS) segment backlog. The agreement includes licensing, basic engineering design packages, proprietary equipment, catalyst supply, and associated services for the 1500 kta naphtha cracker unit (PDNCU) at the upcoming petrochemical complex in Paradip, India. The petrochemical complex will be linked with the current 15 million tons per year refinery and is part of India's plan to establish four Petroleum, Chemicals, and Petrochemical Investment Regions. This complex will feature a world-scale cracker unit and downstream process units to produce various petrochemical products.

Alongside the naphtha cracker technology, Technip Energies will supply essential proprietary equipment, including their unique Ripple Tray™ separation technology and catalyst.

Bhaskar Patel, Senior Vice President of Sustainable Fuels, Chemicals & Circularity at Technip Energies, expressed: “We are thrilled to be selected once again by Indian Oil Corporation Limited for their large-scale cracker project in Paradip. Our reliable ethylene technology and extensive experience with mega crackers set us apart for our clients. We look forward to successfully completing this significant project, showcasing our commitment to India. “

Technip Energies is a prominent engineering and technology company focused on advancing the energy transition, renowned for its specialization in LNG, hydrogen, and ethylene technologies. The company is also expanding its presence in blue and green hydrogen, sustainable chemistry, and CO2 management. With a strong project delivery framework and a comprehensive range of technology, products, and services, Technip Energies is well-positioned to drive forward in these markets. Operating in 34 countries, Technip Energies employs 15,000 dedicated professionals who are committed to realizing clients' innovative projects and pushing the limits to speed up the energy transition for a better future.

Commissioned in 2016, IOCL's Paradip Refinery is located in Paradip, Jagatsinghpur district, Odisha. Positioned on the eastern coast, this refinery meets the demand for petroleum products and is ideally situated for exporting to South-East Asian countries. Paradip Refinery is IndianOil’s first refinery with a single atmospheric column, capable of processing 15 million metric tonnes per annum. Crude oil is received via three Single Point Mooring (SPM) units located approximately 25 kilometers offshore, allowing for delivery by Very Large Crude Carriers (VLCCs).

IndianOil is a diversified and integrated energy leader, engaged in nearly all sectors of oil, gas, petrochemicals, and alternative energy sources. The company boasts a workforce of highly skilled professionals, utilizes state-of-the-art technologies, and conducts cutting-edge research and development. Known for its commitment to best practices, quality, and transparency, IndianOil responsibly harnesses energy in all its forms and delivers it to consumers at affordable rates.