Chennai Petroleum Corp. Ltd. (CPCL), a partly owned subsidiary of Indian Oil Corp. Ltd., has let a contract to Chevron Lummus Global (CLG)—a joint venture of McDermott International Inc. and Chevron Corp.—to provide technology licensing for a delayed coking unit at CPCL’s proposed grassroots Cauvery Basin refinery at Nagapattinam in Tamilnadu, India.
Alongside licensing its proprietary delayed coking technology to maximize value from the vacuum residue stream, CLG also will deliver basic engineering design for the planned 50,200-b/d delayed coker, McDermott said.
The service provider valued the contract—which was signed during this year’s first quarter—at $1-50 million.
A timeframe for the project was not revealed.
In its latest annual report to investors, CPCL said it has obtained in-principle approval for the proposed 180,740-b/d Cauvery Basin refinery that, if realized, will play an important role in meeting future energy needs of India’s Tamilnadu state.
The operator said preparation of a detailed feasibility report for the refinery undertaken by Engineers India Ltd. was to be completed by the end of March.
According to CPCL, the total project will require an investment of 274.5-274.6 billion rupees (±30%) to complete.
