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Annual report 2012 www.recope.com
A 900 m3 Bunker tank at the Refinery:
Damaged bunker equipment was supplied and installed along
with pumping equipment. The amended budget of the project
up until December 31, 2012, was ¢142.59 million (US $0.28
million), and ¢ 0.65 million (US $0.14) (49.55%) has been
executed.
Liquefied Petroleum Gas Storage System (SAGAS):
This project covers the construction of a new sphere, six
horizontal vessels that arrived in late November and four
spheres have been allotted. Upon completion of the three
contracts pertaining the SAGAS Project, installed storage
capacity and inventory of Liquefied Petroleum Gas (LPG) will
increase from 10 500 m3 (65 000 barrels) to 24 500 m3 (154 000
barrels).
Construction progress was achieved regarding a sphere that
holds 25,000 barrels at an estimated cost of US $12.069.672.
The assembly and welding process along with the respective
radiography testing was completed by the 31st of December of
2012. Further heat treatment was applied.
The company responsible for building six horizontal vessels and
four other areas that will complete the system is Felguera IHI SA
(A Spanish company).
The foundations for the six horizontal vessels were completed
and the first three that were imported have been mounted.
After completing the sixth vessel, LPG storage capacity will
increase to 9,000 barrels at a total cost of US $10.481.266.00.
The other 4 spheres will have an individual capacity of 4000
m3 (25,000 barrels) along with piping and pumping systems to
aid import, storage, transfer, sales, instrumentation, fire control
and protection and interconnection to existing systems. Most
recruitment prerequisites were received in 2012 whilst some are
pending expansion of coverage; Initiation orders were issued
and advance payments effected so as to undertake earthworks
and civil works in January 2013. Completion time is estimated in
three and half years at a cost of US $48.974.296,96.
The amended budget for the project’s progress during the
period under study was ¢11.232.94 million (US $22.24 million).
A total of ¢11.035.99 million (US $21.85 million) (98.25%) was
executed.
Expansion and modernization of
the refinery (to 65 000 bbl / day):
The Modernization and Expansion of the Refinery includes
the construction of a new high conversion plant, with a
production capacity of 65,000 barrels per day, which requires
an approximate investment of US $1.240 million. Dispositions
held that RECOPE and the Chinese company CNPCI would
contribute up to 30%, 50/50 each, leaving the remaining 70%
to be financed by third parts.