Historic EPC Contract for Petrojam's Refinery Expansion Project (PREP) Signed

The historic contract agreement for the engagement of a financing and Engineering, Procurement and Construction (EPC) contractor for Petrojam’s Refinery Expansion Project (PREP) was last night (Wednesday, February 15 at approximately 8:07 p.m.)  signed by Minister of Energy, Dr. the Hon. Andrew Wheatley and his Venezuelan counterpart, Nelson Martinez in Caracas, Venezuela.

The signing was highly endorsed by the Venezuelan leadership, including President Nicholas Maduro who was in attendance. Jamaica’s Ambassador to Venezuela, Sharon Weber, and Permanent Secretary of the Ministry of Science, Energy and Technology (MSET), Hillary Alexander, Group General Manager, Petroleum Corporation of Jamaica (PCJ), Winston Watson and our General Manager, Floyd Grindley were also present.  Mr. Watson signed on the behalf the PCJ.

This contract agreement was preceded by the signing of a Pre-Agreement by Prime Minister of Jamaica, the Most Hon. Andrew Holness and President Nicholas Maduro of Venezuela in January.

Under the projected expansion, which is projected to cost $US 850 million to US $1 billion, Petrojam’s refining capacity will increase from 36,000 barrels of crude per day to 50,000 bbl/d.

 

Minister Andrew Wheatley and another Venezuelan Official in the company of President Nicholas Maduro
Minister Andrew Wheatley and another Venezuelan Official in the company of President Nicholas Maduro

Group General Manager, PCJ, Winston Watson signing the agreement
Group General Manager, PCJ, Winston Watson signing the agreement