Tecnimont wins $50 million contract to assess and plan Guaracara refinery upgrade, boosting efficiency, sustainability, and supporting future restart plans.
MAIRE has announced that its engineering and construction arm, Tecnimont, through its subsidiary Tecnimont Services, has secured a significant contract valued at approximately USD 50 million. The contract pertains to conducting a comprehensive rehabilitation study for the Guaracara Refinery Complex, a major refining facility located in Point-à-Pierre, Trinidad and Tobago.
Under the terms of the agreement, the company will undertake an extensive evaluation of the refinery complex, which currently has a processing capacity of around 150,000 barrels per day. The scope of work primarily involves a detailed technical and structural integrity assessment of the facility’s various process units and associated equipment. This will be complemented by the preparation of a multi-phase rehabilitation study, specifically Phase 1 and Phase 2, aimed at determining the steps necessary to restore and upgrade the refinery for future operations.
The assessment process will identify critical areas within the complex that require refurbishment, modernization, or replacement. In addition, the study will examine whether the refinery’s existing technologies are capable of meeting long-term operational goals, performance expectations, and evolving industry standards. Particular emphasis will also be placed on evaluating the plant’s energy efficiency and environmental footprint, ensuring alignment with increasingly stringent global sustainability and regulatory requirements.
A key component of the project includes engineering advanced systems for water intake and cooling, which are essential for improving operational reliability and environmental compliance. These systems will be designed in accordance with internationally recognized engineering standards, reflecting the project’s focus on modernizing infrastructure while enhancing efficiency and sustainability.
Based on the findings from these evaluations, Tecnimont Services will develop preliminary estimates for both capital expenditure (CAPEX) and operational expenditure (OPEX). These financial projections will play a crucial role in supporting decision-making related to the potential refurbishment and eventual restart of the refinery. The completion of Phases 1 and 2 is targeted for early 2027.
Looking ahead, the project may progress beyond the initial study stages. The scope is expected to expand into Front-End Engineering Design (FEED), followed by Engineering, Procurement, and Construction (EPC) activities, ultimately extending to full-scale Operations and Maintenance (O&M) services. This phased approach underscores the long-term commitment to fully rehabilitating the refinery complex.
Tecnimont’s selection for this contract reflects its strong track record in executing complex plant upgrade and modernization projects worldwide. The company’s expertise is further reinforced by Tecnimont Services’ capabilities in plant operations, maintenance, and the integration of advanced solutions such as green energy systems, digital technologies, and energy optimization services.
Commenting on the development, Alessandro Bernini highlighted that the project represents an important step in strengthening the group’s global footprint, particularly in the Central American and Caribbean region. He emphasized the growing importance of upgrading existing industrial assets to make them more efficient and environmentally sustainable. According to him, the Guaracara refinery project is expected to deliver meaningful economic benefits to the local community by supporting industrial growth, generating value, and enhancing technical skills within the region.
