17-09-2013

Wison engineering contract for the first residue hydrocracking plant in China

Wison Engineering Services Co. Ltd, announced today that Wison Engineering Ltd., an indirect non-wholly owned subsidiary of the Group, has secured the contract for designing the first residue hydrocracking unit in China.

Pursuant to the contract, Wison Engineering will provide a privately-owned chemical enterprise in China basic design and detailed design services to its newly constructed 800kta heavy oil hydrocracking plant. This will be comprised of a residue hydrocracking unit, a hydrorefining unit for oil products, a gas recovery unit and design services for  ancillary facilities and utilities. The relevant plant demonstrates the application of innovative UOP residue hydrocracking technology for the first time in China. The technology not only converts low-valued components of heavy oil via hydrocracking and hydrorefining processes with high conversion rates to high-valued liquid such as diesel and naphtha products, but also boosts actual product yields 25%-35% higher than other conversion processing technology for heavy oil and residue. As the first residue hydrocracking plant in China, the project put forward higher requirements for Wison Engineering's engineering capabilities on new technology and process package application.

Mr. Liu Haijun, Senior Vice President of Wison Engineering, said, "This heavy oil hydrocracking project is one of the milestone projects that implies new opportunities for heavy oil deep processing in China. It demonstrates the cutting-edge heavy oil processing technology for large domestic oil refining enterprises and local oil  refineries. Leveraging its excellent design team, leading design management concepts and advanced information technology platform, Wison Engineering is highly confident in completing the project successfully by bringing its competitive advantage of possessing engineering design talents and cutting-edge technology into full play, while accumulating practical experience in applying revolutionary engineering technology in China's oil refining industry."