TORPOL Group diversifies their order portfolio
The consortium of TORPOL S.A. and Torpol Oil & Gas Sp. z o.o. [TOG] announced the conclusion of an agreement with PGNiG S.A. for the expansion of the Lubiatów Crude Oil and Natural Gas Mine in order to increase production capacity from the Międzychód oil and gas field. The remuneration for the contract will amount to PLN 393 million gross (approximately PLN 319.5 million net). The investment will be completed in 2 years. The modernisation and expansion of the second largest oil production mine in Poland will enable PGNiG to obtain an additional 3.4 billion cubic metres of natural gas and 510,000 tonnes of oil in the period 2024-2043.
TORPOL’s share in the remuneration and completion of the works of the task “Extension of the Lubiatów Central Centre by a complex of buildings and structures together with technical infrastructure; extension of the Międzychód Group Centre related to the commissioning of the Międzychód-8H well will be approximately 25%.
We are very pleased to win a new project in such a rapidly growing and highly innovative and technological construction segment. The contract with PGNiG is an element of Torpol’s diversification of its activities, confirms the high competences and growing potential of TOG, and strengthens and stabilises its position in this market segment – said Grzegorz Grabowski, the President of the Management Board of TORPOL S.A.
The agreement with PGNiG is historically the largest contract signed by TOG, which shows that we can take on more and more market challenges every year. The market in which we operate is both demanding in terms of appropriate technological competence and highly prospective, especially at a time when Poland is becoming independent of oil and gas supplies from the East and is developing its own infrastructure in this sector – said Cezary Pokrzywniak, the CEO of Torpol Oil & Gas.
Moreover, as part of the extension of the technological installation of the Lubiatów Crude Oil and Natural Gas Mine, it is envisaged that a new amine installation and a high-pressure separation installation, a low-temperature installation and a formation water degassing installation, as well as the extension of the electrical installations, the control system and the accompanying infrastructure are to be built. The extension of the Międzychód Group Centre, on the other hand, will include the construction of a technological installation for the initial preparation of reservoir fluid, as well as the extension of the telecommunications and electrical installations and the control system.
TORPOL will be responsible for the structural and civil works and electrical installations, while the remaining elements of the contract will be carried out by TOG.
Torpol Oil & Gas specialises in the design and construction of technological installations for, among other things, purification and treatment of natural gas and crude oil. In addition, the company has experience in the construction of installations for syngas, oxygen, ammonia, hydrogen sulphide, LPG, LNG, nitrogen, hydrogen, formation fluid, condensate, helium, formation water, mercury, mercaptans, glycol, amine, carbon dioxide and many others.