Project Profile
Value: US$1.5 billion
Location: 75 km northwest of Buenos Aires, Argentina
Capacity: 87,000 bpd
The Campana Refinery is located near the town of Campana, 75 km northwest of capital Buenos Aires. The total cost of the project is estimated to be at least US$1.5 billion. IFC will provide up to a US$75 million A Loan for its own account and up to US$325 million in syndicated B loans.
In 2014 the company halted the crude distillation units and other processing plants at the 87,000 barrel per day (bpd) Campana refinery to carry out a US$300 million planned maintenance. The overhaul started on March 7 2014; boilers and fracking towers received maintenance. At that time, the stoppage was also used to prepare further connections with the new units to be added in this expansion phase, which will increase by 60% the gasoil production capacity and by 50% the naphtha output at the refinery.
The upgrade of the Campana Refinery aims to increase diesel production by 60% and gasoline output by 50%. This project will be the biggest in 30 years of life of the refinery. The initiative seeks to reduce gas emissions, especially sulfur dioxide.
The refinery produces LPG, Gasoline, Diesel and Coke.
Axion acquired the asset in September 2012 from Exxon Mobil Corporation.
Operators:
Axion: 100% interest
Axion is a wholly owned subsidiary of the Bridas Corporation, a private company primarily engaged in oil & gas activities in the Southern Cone. Bridas is 50% owned by Bridas Energy Holdings in Argentina and 50% by CNOOC Limited, one of China’s largest petroleum companies.
Contractors:
Foster Wheeler: Awarded Coker contract (2013).