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23
Annual Report 2013 www.recope.com
of two tanks with a capacity of 5,565 cubic meters (35,000
barrels each).
The works were completed and the tanks are fully
operational. Although the construction of two additional
tanks was contracted through an extension of the original
contract, there was a surplus in the budged, as of the ¢503.20
million contained in the modified budget for the project
to December 31, 2013, only ¢152.32 million (30.3%) was
executed.
LPG storage system
The preliminary reception for the first tank had
been executed by December 31, 2013, with a storage
capacity of 25,000 barrels of LPG, with an approximate cost of
$12,069,672 (twelve million sixty nine thousand six hundred
seventy two US dollars).
After start up, the technical support phase started,
in order to program the provisional acceptance for the works.
The company in charge of the project is Felguera IHI, S.A.
(from Spain), who is also responsible of building six horizontal
containers and four tanks.
Regarding the six horizontal tanks, which would
increase LPG storage capacity by 9,000 barrels, some
work was still pending by December 31, 2013, such as
instrumentation, pipeline paint, accessories, interconnection,
pre-commissioning, commissioning, and startup. Meanwhile,
worked progress in the installation of pipelines, accessory
valves, walkways and access points. The total approximate
cost for the project is $10,481,266.00 (tenmillion four hundred
eighty one thousand two hundred sixty six US dollars).
Progress was achieved in the detail engineering for
the construction of the remaining four tanks, each one with
an individual capacity of 4,000 cubic meters (25,000 barrels).
Two primary container designs were completed, as well as
the temporary installation, although approval of the electric
and water meter took longer than expected. In addition, work
started for the installation of the tank sheets, 7712 and 7714,
working on both installations simultaneously.
Upon completion of the three LPG Project contracts,
installed capacity will be increased by a total of 154,000
barrels.
The modified budget for the project with own
funds for the survey term is ¢5,854.63 million, out of which
¢5,082.82 million have been executed. Regarding financing
with bonds, there is a modified budget of ¢2,683.99 million
by December 31, 2013, out of which ¢2,681.63 million have
been executed.
Expansion of the port terminal in the Atlantic
(Terminal Petrolera Portuaria del Atlántico)
EThe project consists of the construction of mooring
docks, to safely unload 80,000-ton ships (560,000 barrels of
crude oil). This represents significant savings in shipping
costs, as the current limit is 40,000 tons. It has a cost of US$96
million and it has been contracted to the Mexican-Costa Rican
consortium ICA-MECO (ICA Ingenieros Civiles Asociados de
C.V-Constructora Meco S.A.).
By the month of December, construction was still
in progress for the expansion of the breakwater, measuring