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SNC-Lavalin awarded heavy oil upgrader study contract in Venezuela

CNW Telbec
CALGARY
Petroleumworld.com 10 26 06

SNC-Lavalin has been awarded a contract by Venezuela's state-owned oil company, Petrsleos de Venezuela SA (PDVSA), to carry out a scoping study for an Extra Heavy Oil Processing Complex in the Orinoco Oil Belt in Venezuela.

The Complex is a major component of PDVSA's long term plan to increase
oil production from the Orinoco Oil Belt in central Venezuela. The contract
includes a siting study to determine suitable locations for this major grass
roots processing complex. Once completed, it will process approximately
800,000 barrels of extra heavy oil per day which will be used to produce
synthetic crude oils for international crude oil markets.

"We are pleased that PDVSA has awarded this significant component of
their refining business plan to SNC-Lavalin," said Jean Beaudoin, Executive
Vice-President of SNC-Lavalin Group Inc. responsible for chemicals and
petroleum operations worldwide. "This is a very important project that will
promote socio-economic development in the Orinoco Oil Belt."

SNC-Lavalin has begun work on the project, which it will carry out in
conjunction with Venezuelan contractors and international process licensors.
The scoping study should be completed by the first quarter of 2007.

SNC-Lavalin (TSX:SNC) is one of the leading groups of engineering and
construction companies in the world, a global leader in the ownership of
infrastructure, and in operations and maintenance services. The SNC-Lavalin
companies have offices across Canada and in 30 other countries around the
world and are currently working in some 100 countries. www

CNW Telbec 25 10 06

Copyright ©2006 CNW Telbec. All Rights Reserved.

 

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