VMOS SA, a company part-owned by YPF —the largest company in the Argentine energy sector— has awarded Técnicas Reunidas the contract for the engineering and management services related to the Vaca Muerta project, the large oil field that extends over 30,000 square kilometers in several provinces in central Argentina.
This oil project, which is the largest in the country and has one of the largest non-conventional oil and gas reserves in the world, strengthens YPF’s position in the global energy market, and also boosts Argentina’s economic development by creating jobs and attracting foreign investments.
The work entrusted to the Spanish company includes the engineering, procurement and construction management services, under an EPCm type contract, for a hydrocarbon storage and dispatch terminal to be located in Punta Colorada, on the coast of the province of Río Negro.
The terminal will have a storage capacity of 600,000 m3, a very significant figure from an international scale perspective, and will be divided into five tanks. Its dispatch capacity will be 62,000 m3 per day through two monobuoys that will be able to load very large crude carriers (VLCC)) tankers.
The worth of the contract awarded to Técnicas Reunidas will amount some 440 million dollars, of which more than 70 million will correspond to engineering and project management services. The total investment to be made by YPF and its partners for the full implementation of the terminal will be around 1.8 billion dollars.
The work entrusted to Técnicas Reunidas will be carried out by engineers from the company’s centers in Madrid, Argentina and Chile. Its execution will require around 1 million working hours.
In a previous stage of this project, Técnicas Reunidas was in charge of optimizing the conceptual engineering previously developed by YPF. This work made it possible to reduce the investment figures and the execution periods for the planned infrastructures, with the aim of enabling the Argentinean company to export fuel at reduced capacity as quickly as possible, once local demand had been met.
The award of the new contract extends Técnicas Reunidas’ relationships with this client, as the Spanish company is currently and successfully completing the project to upgrade the Luján de Cuyo refinery that YPF recently awarded it.
The Vaca Muerta contract is in line with the boost that Técnicas Reunidas is currently applying to its involvement in projects in which construction risks are minimized, in line with the SALTA strategic plan presented last May.
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