In a bid to develop Iran’s oldest crude processing facility in the oil-rich province of Khuzestan, China’s Sinopec Engineering Company, has reportedly signed a deal worth USD 1 billion. According to reports, Sinopec Engineering has won an EPC (Engineering, Procurement, and Construction) contract to develop the second phase of the Abadan refinery. For the record, Iran’s Abadan refinery, once the largest oil refinery in the global oil & gas industry, was originally built in 1912 and partially rebuilt in the 1980s as it was heavily damaged during the Iraq-Iran war. The refinery currently has a capacity of processing around 400,000 … Continue reading Sinopec’s Abadan refinery expansion to gain ground in Iran O&G market