Worley (ASX:WOR) signs petrochemicals complex deal in Egypt

Company News

by Melissa Darmawan

Worley (ASX:WOR) has signed a deal with Red Sea National Refining and Petrochemicals Company for a greenfield integrated refinery and petrochemicals complex in Egypt.

The project located in the Suez Canal Economic Zone will convert an estimated four million tons per year of crude oil into refined products and petrochemicals.

These include jet fuel, low sulphur fuel oil, polyethylene, paraxylene, and monoethylene glycol.

Under the deal, Worley will provide project management consultancy services for the early front-end engineering design, front-end engineering design, and the detailed engineering, procurement and construction phases of the project.

The services will be executed by Worley’s Egypt and UK offices with support from Worley’s Global Integrated Delivery team.

“As a global professional services company headquartered in Australia, we are pleased that Red Sea Co. has selected Worley to deliver this important project in Egypt.

We are committed to delivering a more sustainable world and will use our project management expertise to help develop reliable and efficient operations for this significant complex,” said Chris Ashton, chief executive officer of Worley.

Shares in Worley (ASX:WOR) are trading 0.44 per cent higher at $11.30.

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