Worley Parsons (ASX:WOR) has been awarded a four-year project management consultancy contract for the new hydrocracking complex (AHC Project) in Egypt by Assiut Oil Refining Company.
The contract is part of an upgrade of the refinery capacity and efficiency in the Upper Egypt area.
Under the agreement WorleyParsons will oversee the basic engineering phase, open book estimate, design, procurement, construction and commission of the project.
Its estimated the new complex will process the conversion of 2.5 million tonnes per year of heavy fuel oil into high quality petroleum products.
Shares in WorleyParsons (ASX:WOR) are trading 0.24 per cent lower to $20.36.