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Honeywell's UOP Technology Selected To Modernize Refinery In Kazakhstan To Produce Gasoline And Diesel

Stocks in this article: HON

DES PLAINES, Ill., Feb. 21, 2013 /PRNewswire/ -- UOP LLC, a Honeywell (NYSE: HON) company, announced today that its technology has been selected by the largest refiner in Kazakhstan to help it upgrade its facility and boost the production of gasoline and diesel.

KazMunaiGas' (KMG) Pavlodar Oil Chemical Refinery (POCR) will use a range of UOP processes and services to modernize its facility in Northeast Kazakhstan Province, allowing it to meet Euro-5 standards aimed at reducing motor vehicle pollution.

"UOP technology will play a large role in POCR's modernization efforts, which will improve its production capacity and help meet strict fuel standards," said Pete Piotrowski, senior vice president and general manager of Honeywell's UOP Process Technology and Equipment business unit. "UOP's technology suite and services will help POCR capture a high return on investment, and we look forward to successful implementation and start-up."

Established in 1978, POCR is one of Kazakhstan's three oil refineries, and it is the country's largest oil processing enterprise. It processed about 100,000 barrels per day in 2010, accounting for 30 percent of refined product output in the country.

After Russia, Kazakhstan has the largest oil reserves and the largest oil production in the former Soviet Union, according to the Energy Information Administration. The country is expected to produce 1.6 million barrels per day of oil this year.

Since 1998, Honeywell has been expanding its presence in Kazakhstan's oil and gas, aviation, and construction sectors in support of the country's growing energy needs. Helping improve safety and security for Kazakhstan's companies and population is a clear focus around Honeywell's activities in the country. Honeywell's UOP technology will help the country meet energy efficiency directives for cleaner transportation fuels.

Last year, Kazakhstan announced that by January 1, 2016, all refineries will meet Euro-5 gasoline and diesel production standards, which were implemented to help curb motor vehicle pollution. Euro-5 is a directive by the European Union that defines acceptable limits for exhaust emissions.

POCR is owned by KMG. KMG's scope of business includes exploration, field development, oil and gas production, the purchasing of fields, and processing and selling crude oil and refined products.

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