Technip Energies has secured a significant engineering, procurement and construction (EPC) contract from state-run Hindustan Petroleum Corporation Limited (HPCL) for its Lube Modernization and Bottom Upgradation (LMBU) project at the Mumbai refinery in Maharashtra. According to reports from Business Standard, the contract represents a large award for the company, classified as contracts between €250 million and €500 million in revenue. The order intake will be recorded in Technip Energies' Project Delivery segment's backlog in the third quarter of 2026.
The contract covers the delivery of a 550-kilotonne-per-annum (KTA) Integrated Hydrocracker and Catalytic Dewaxing (IHCD) unit and an 850-KTA Solvent Deasphalting (SDA) unit. As reported by Business Standard, these two units will form a key part of HPCL's modernisation project and will be integrated into the existing refinery facilities. The project aims to enhance HPCL's production of lube oil base stocks, which are essential raw materials for manufacturing automotive engine oils and industrial lubricants.
The project will enable the refinery to upgrade heavier petroleum streams into higher-value products, improving resource utilisation and strengthening the facility's long-term competitiveness. According to Business Standard, by improving the processing capabilities of its existing assets, the project is expected to strengthen domestic production capacity and increase the value derived from refinery operations. This aligns with India's continued investment in upgrading refining infrastructure to meet rising domestic demand for fuels and speciality petroleum products.
Loïc Chapuis, president of Project Delivery and Services at Technip Energies, expressed confidence in the project delivery, stating that the company looks forward to delivering the new units and ensuring their integration with existing facilities. As reported by Business Standard, Chapuis noted that the award reflected HPCL's confidence in the company's EPC delivery capabilities and built on a relationship spanning more than two decades between the two companies.
