LONDON (dpa-AFX) - John Wood Group PLC (WG.L,WDGJF), an engineering and consulting business, Thursday announced that Romanian energy producer OMV Petrom S.A. has awarded a contract for a project aimed at increasing sustainable fuel production in Southeast Europe. The financial terms were not disclosed.
After completing the front-end engineering and design or FEED for the project, John Wood will now handle the engineering, procurement, and construction management or EPCm to set up a new bio-hydrotreater unit and storage facilities at the refinery.
With the project, the Petrobrazi refinery in Romania will be the region's first large facility to produce sustainable aviation fuel.
The project will allow the production of sustainable aviation fuel or SAF, which produces much less CO2 than traditional fossil-based kerosene and hydrotreated vegetable oil or HVO using Honeywell UOP Ecofining technology.
The upgrades at the Petrobrazi refinery and its SAF production will help the European Commission achieve its targets of 6 percent SAF use at EU airports by 2030 and 70 percent by 2050, contributing to the reduction of carbon emissions in the aviation industry.
CEO of John Wood, Ken Gilmartin said, 'This, combined with our world-class engineering and execution expertise, positions Wood to successfully complete this project and establish Petrobrazi as the first major producer of sustainable fuels in Southeast Europe'.
Wednesday, WG.L had closed 0.77% less at 65.70 pence on the London Stock Exchange.
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