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 September 23, 2015 - 2:09 AM EDT
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Neste Jacobs chosen to implement Neste's Naantali Refinery reconfiguration project in Finland

ESPOO, Finland, Sept. 23, 2015 (GLOBE NEWSWIRE) -- Technology, engineering and project management company Neste Jacobs will perform EPCM (Engineering, Procurement, Construction Management) services for Neste's EUR 60 million investment in Naantali to improve the competitiveness of the refining operations. Neste Jacobs has earlier performed Basic Engineering for the project.

The investments are connected to the program announced in October 2014 with which Neste will develop the refineries in Porvoo and Naantali as one unit to improve the competitiveness of its refinery operations.
With these investment decisions, Neste will simplify the refinery structure in Naantali and improve the process efficiency, which will lower the production costs and increase feedstock supply to Porvoo Refinery.
Together with the investment program implemented in Porvoo, the share of heavy fuel oils in Neste's production will decline and the share of diesel will increase.

The project of combining the operations of the two refineries has proceeded as planned, and the new operating model will be in full operation by mid-2017.

"We realize the importance of this investment both for Neste and the industry and are very happy to be a part of this interesting and complex assignment", says Jarmo Suominen, CEO of Neste Jacobs. "Being a substantial contributor in Neste One Refinery programme strengthens our position as a preferred solution provider for hydrocarbon industries very well."

"We are convinced of Neste Jacobs' capabilities to carry out this project and wanted a partner we can fully trust", says Matti Lehmus, Executive Vice President, Oil Products of Neste. "This is strategic investment for us and Neste Jacobs has once again proved that they are the right solution provider for us."

For more information, please contact:

Jarmo Suominen, CEO, Neste Jacobs Oy, tel +358 50 458 3399

Matti Lehmus, Executive Vice President, Oil Products, Neste Oyj, tel +358 50 458 4072

Neste Jacobs is a preferred solution provider of high-quality technology, engineering and project services for a wide range of industries in the fields of oil and gas, petrochemicals, chemicals, biorefining, biochemicals, biopharma and industrial infrastructure. We have 60 years of experience in technology development and industrial investment projects as well as maintenance and performance improvement in Europe, North and South America, Asia and the Middle East. In addition to our home market Nordic countries we are looking to grow in the global expanding markets. We employ 1300 professionals

Neste is a pioneer in oil refining and renewable solutions. We provide our customers with premium-quality products for cleaner traffic and industrial products based on world-class research. Our sustainable operations have received recognition in the Dow Jones Sustainability World Index and the Global 100 list of the world's most sustainable companies, among others. Our net sales for 2014 amounted to approximately EUR 15 billion, and our shares are listed on NASDAQ Helsinki. Cleaner traffic, energy and life are moved forward by about 5,000 professionals.


Source: GlobeNewswire (September 23, 2015 - 2:09 AM EDT)

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