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 November 30, 2015 - 2:04 AM EST
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Neste Jacobs to implement Borealis' multi-million cracker furnace upgrade in Stenungsund, Sweden

ESPOO, Finland, Nov. 30, 2015 (GLOBE NEWSWIRE) -- Technology, engineering and project management company Neste Jacobs and Borealis, a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers, have signed an agreement for Neste Jacobs to deliver the complete EPCM services for the upgrade and revamp of four cracker furnaces to the highest currently available standards in process safety and energy efficiency.

The investment programme entails revamping four of the current six furnaces and shutting down completely the two remaining, ageing ones. Safety and process safety will receive the highest priority during programme implementation and start-up phase. The project investment value is 160 MEUR and it is scheduled to begin in late 2015 and be completed by 2020.

Neste Jacobs carries out the project from its offices in Sweden and Finland.

"We are very proud that a leading company like Borealis considers Neste Jacobs as an essential part in the achievement of their objectives in their cracker operations upgrade," says Jarmo Suominen, CEO of Neste Jacobs. "This extensive furnace revamp project reinforces our position as a leading solution provider for petrochemical companies in the Nordic countries and it is great that Borealis has chosen Neste Jacobs as their strategic partner."

"Safe as well as highly reliable and efficient operations of our Stenungsund cracker are important for our success and therefore we chose Neste Jacobs as a competent and trustful partner," says Johann Berger, Vice President Technical Development and Engineering of Borealis. "Neste Jacobs has carried out already a significant part of the Basic Engineering of our cracker furnace revamp project and on the basis of this good co-operation, we want Neste Jacobs to carry out the implementation phase as well."

For more information, please contact:
Jarmo Suominen, CEO, Neste Jacobs Oy, tel + 358 50 458 3399

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 globally.

Borealis is a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers. With headquarters in Vienna, Austria, Borealis currently employs around 6,500 and operates in over 120 countries. It generated EUR 8.3 billion in sales revenue in 2014. The International Petroleum Investment Company (IPIC) of Abu Dhabi owns 64% of the company, with the remaining 36% owned by OMV, an integrated, international oil and gas company. Borealis provides services and products to customers around the world in collaboration with Borouge, a joint venture with the Abu Dhabi National Oil Company (ADNOC).


Source: GlobeNewswire (November 30, 2015 - 2:04 AM EST)

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