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CEO Mohammed Ghazi Al-Mutairi inaugurated the operation of the “CFP” first Hydrocarbon Line
CEO Mohammed Ghazi Al-Mutairi inaugurated the operation of the “CFP” first Hydrocarbon Line and the operation of the Project Flare, marking commencing the commissioning operation of the Steam Boiler Unit as well as the Project’s services which will be soon followed by operating the production units.
On this occasion which was attended by both DCEOs of MAA Fahd Al-Daihani and of Projects Abdullah Fahhad Al-Ajmi and “CFP” Operations Manager Shuja’a Al-Ajmi, the CEO delivered a speech wherein he said that this significant event represents the first step towards the actual operating of “CFP” Units, being one of the most strategic projects which the Company is carrying out nowadays.
The Project aims to develop and expand both MAA and MAB so that their total refining capacities reach 800 kbpd, and to join both of them so as to become in integrated refining complex which will demonstrate flexibility, the thing which will enable the Company to satisfy the ever-changing local and international markets’ requirements of high quality petroleum products. Another objective of this Project is to upgrade the performance of both refineries, equipment, levels of operating safety and reliability together with the optimized use of the energy.
The Project will provide the market with new job opportunities for the national labor force, accompanied by achieving an added value to the oil wealth through converting high-sulfur fuel oil (HSFO) to low-sulfur petroleum products (LSPP), the thing which will bring optimum investment returns envisaged to reach approximately 11.5% which is very rewarding for a project of this size.
What’s worth mentioning in this regard is that the contract for this project was signed on 13.4.2014 and is anticipated to be inaugurated during the first quarter of the forthcoming year, whereas the completion ratio thereof was 95.1% till the end of the last month (June).
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