EXCEL, PETRÓLEOS INTERNACIONALES DEL CARIBE SIGN STRATEGIC EPC PARTNERSHIP

KUALA LUMPUR, July 15 (Bernama) -- EXCEL, Petróleos Internacionales del Caribe (PIC) and its operating division in Mexico, Petróleos Internacionales del Caribe Inc Sucursal México (PICMEX), jointly announced the signing of a Strategic Engineering, Procurement and Construction (EPC) Partnership, Exclusive Agreement, with PIC.

This is for the engineering, procurement and construction of PIC’s key export facilities in Houston, TX, together with GLM compressed storage systems for various fuels and key gas pipelines forward positions for the required fueling elements for its maritime and terrestrial operations.

“Through this exclusive operational partnership, PIC and EXCEL will accelerate commercialisation of the export facilities to help meet the fuel supply and electricity needs of PIC’s customers in Mexico and throughout the Americas and abroad, while substituting higher-emission fuels to continue driving down emissions towards a greener brighter future,” said PIC chief executive officer Michael Hood in a statement.

Meanwhile, President of EXCEL Midstream Solutions, Jason Hardwick said: “EXCEL is very proud to be partners with such a great organisation like PIC and being the chosen EPC for PIC’s state-of-the-art facilities and pipelines.”

The Strategic EPC Partnership represents a significant investment milestone in the commercialisation of the export facilities and receiving terminals.

This signals the commencement of project-specific pre-FEED (Front End Engineering Design) studies by PIC for the delivery of its maritime and terrestrial operations that will ensure uninterrupted shipments by PIC and its other global partnerships for decades to come.

These studies will cover the design of the production and export terminals, receiving terminals and plants, along with the fleet that will be built to transport and deliver fuel to PIC’s markets in Mexico and throughout the Americas.

Following completion of the pre-FEED studies and Final Investment Decision by PIC and EXCEL, PIC and its consortium partners will undertake the FEED for the final design and construction for the projects in Mexico that PIC has positioned thus far with its consortium partners.

More details at www.pic-sas.com.

-- BERNAMA