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| STEAUA ROMANA REFINERY |
In August 2006, Genoil and Steaua Romana ,the Romanian refining group, signed a Memorandum of Understanding (MOU) to upgrade the vacuum distillation tower residues bottoms for the 11,000 bpd refinery located in Campnia, Romana with a GHU® and related hydroconversion upgrader infrastructure.
The Steaua Romana refinery project is designed to upgrade the vacuum towers residues of 1,200 to 1,500 bpd for further processing in the refinery. Under the terms of the MOU, Steaua Romana and Genoil will commence with a pre-FEED study for the purpose of defining the GHU® facility configuration, integration into the existing refinery, expected product yield and preliminary costing. Upon completion of the pre-FEED engineering study, Genoil will begin testing of these vacuum tower bottoms at its Two Hills facility to verify final design conditions.
Upon successful completion of the tests, the parties will commence the design phase for an upgrader that will be integrated with the Steaua refinery. Genoil has the option to own 50% of the upgrading facility and receive 50% of the profit as long as the facility remains in operation.
Genoil's strategy is to plan to conduct a GHU® retrofit on this refinery and to utilize this project as a showcase for European, Eastern European, and Russian and CIS oil companies. |
Steaua Romana Refining
