(Energy Analytics Institute, 8.Jun.2016, Clifford Fingers III) – Ecuador will benefit financial from the recently completed overhaul of the Esmeraldas refinery.
The country will save more than an estimated $1 million per day due to the decrease in fuel and derivative imports which will translate into an annual savings of around $355 million, reported EP PetroEcuador in an official statement on its website, citing company General Manager Pedro Merizalde Pavón.
“The refinery is now operating at 100 percent of its capacity,” said EP PetroEcuador Refining Manager Diego Tapia.
The overhaul of the refinery required an investment of $1.2 billion and allowed EP PetroEcuador to recuperate the mechanical integrity of the plant and return to its 110,000 barrel-per-day operating capacity.
An estimated 7,000 workers participated in overhaul activities, of which 6,400 were local hires.
The overhaul will translate into an annual savings of nearly $355 million due to the reduction of fuel and petroleum derivative imports.
As part of the overhaul, close to 5,300 tons of toxic waste was also shipped outside of Ecuador for proper treatment. Additionally, $137 million was invested in social projects especially in the area of education, health, sanitation, as well as road related activities.