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23
Annual report 2012 www.recope.com
On the 31st of December, 2012 the project was at the “Basic
Engineering Stage” (FEED), and the following activities were
pending:
• Subscribing the leasing contract between RECOPE and
SORESCO
• Attaining Financing
• Obtaining an offer of Detailed Engineering, procurement and
construction by CNPCI or one of its subsidiaries.
• Obtaining validation of the reasonability of the IPC offer from
an independent company.
• Obtain support from the General Comptroller of the Republic.
• To initiate the construction stage
The amended budget of the project up to the 31st of December,
2012, was ¢2.155.07 ($4.27 million), and ¢2.004.61 (US $4.05
million) was executed (93.02%).
Extension of the Atlantic
Port Oil Terminal (ATPPA):
The idea is to expand the oil port terminal towards the
breakwater area in the north of Moin Bay by adding modern
facilities. A dolphin berthing structure type will be used allowing
berthing ships of up to 80,000 tons (deadweight). This is a key
project for the Company. A large sum of money is wasted due
to dead freight and discharge delays at Moin oil port. Progress
was made in 2012; basic engineering designs and service
booth machine houses were designed. We executed detailed
engineering of the access road (the construction has begun).
Channel dredging was completed in the pier and breakwater
extension area; as such, the contract progressed according to
schedule. According to the company responsible for the work
(ICA-MECO), completion is scheduled for 2014.
The amended budget for the project up to the 31st of December,
2012, was ¢17.835.070 (US $35.32 million), and a total of
¢17.154.76 million (US $33.97 million) was executed (96.19%).
Phase I of the Pacific Terminal:
The goal is to develop an import terminal to strengthen the
Pacific National Fuel System and reduce the risk of eventual
shortage due to problems in the Atlantic. It is also intended
to improve delivery to Garabito Thermal Power Stations. This
project has been delayed significantly in the past two years.
It requires a redefinition of purpose and scope. Budgetary
constraints and company funding, are being evaluated in order
to choose a lower investment level option. Oceanographic
studies are now being monitored and guidance procedures are
being oriented to request funding approval by the Ministerio de
Planificación is being developed.
The project´s amended budget up to the 31st of December,
2012, was ¢330.27 million (US $0.60 million). And ¢84.37 million
(US $0.17 million) has been executed (25.55%). This budget
execution is due to the payment of a bathymetry (a deep sea
study) in the Monoboya region.