Orlen signs 641 million euro contract with Petrofac for Lithuanian refinery

Orlen has signed a contract with Petrofac for construction of an installation for deep crude oil processing in the Mazeikiai refinery, which will increase fuel production effectiveness. The whole project will cost EUR 641 million or roughly PLN 3 billion.

The construction of the installation will last until the end of 2024. As Orlen explains, thanks to this investment the company’s EBITDA may increase by about EUR 68 million a year, thus increasing profitability of the refinery.

The contractor of the installation for deep crude oil processing in the Lithuanian refinery will be Petrofac company. As Orlen informs, its offer turned out to be the most attractive in the conducted tender procedure.

“The investment in the deep crude oil processing in Lithuania enters the implementation phase. We have concluded an agreement in which PKN Orlen declared to finance it and thus significantly increase the competitiveness of the Mazeikiu refinery, which is crucial for the energy security of our region. (…)”- said at the beginning of October Daniel Obajtek, the president of Orlen.

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