29-03-2017

MMEX Resources and KP Engineering to design, build crude oil refinery in Permian Basin

MMEX Resources Corp, a development stage company focusing on the acquisition, development and financing of oil, gas, refining and infrastructure projects in Texas and South America, and KP Engineering, an energy industry leader in engineering, procurement and construction (EPC) solutions, announced today a partnership for KPE to engineer, design and construct the planned Pecos County refinery announced by MMEX earlier this month.
 
Jack W. Hanks, President & CEO of MMEX Resources Corp., commented: “Plans for the Pecos County refinery are progressing smoothly and rapidly, and the selection of KPE as the project’s EPC contractor is an essential first step to beginning the project. With their strong industry experience, knowledge of the Texas market, scalability and agility, KPE is an ideal partner for MMEX on this project.”
 
On March 7, MMEX announced plans to build a crude oil refinery in the Permian Basin near Fort Stockton, Texas, subject to the receipt of required governmental permits and completion of required debt and equity financing. The state-of-the-art refinery project, with plans to export crude oil, fuels and petroleum products to western Mexico and South America, would generate approximately 400 local jobs during peak construction and approximately 100 permanent jobs upon becoming fully operational.

“We are humbled that MMEX Resources has chosen KPE to assist them in constructing a state-of-the-art crude processing and transport facility for the Permian Basin,” said Brandon T. Steele, Chairman and CEO of KP Engineering. “KP Engineering employs some of the finest professionals in the industry and we are excited to be working alongside MMEX Resources Corp. as their EPC firm on this important project and look forward to commencing work immediately.”
 
MMEX and KPE also announced today that KPE plans to subcontract with Interstate Treating, Inc./RAMA Fabrication, Inc. of Odessa, Texas to engineer and fabricate vessels and process modules for the refinery, allowing for the Pecos County refinery to be constructed using U.S.-sourced materials and equipment.

Hanks concluded: “MMEX Resources is committed to delivering an American-made, state-of-the-art refinery that brings significant economic and job opportunities to the Permian. We’re proud to work alongside KP Engineering, Interstate Treating/RAMA and the Pecos County community to bring the Pecos County refinery to life.”