Nayara Phase-II expansion: FEED in Q-1, 2022, New business model to be followed – 27 Aug 2021

Nayara is the first truly internationally owned company operating in the downstream oil & gas sector. Expect for a few exceptions, the board is entirely made up of foreign faces.

And the company finds India to be a great opportunity, a kind of vote of confidence that many multinationals which came in the E&P sector cannot vouch for

With Phase-I EPC contracting over, FEED RFQs for Phase-2 will begin in April, 2022. Feasibility studies are currently on

In Phase 2, the company plans to construct a world scale steam cracker that is integrated with the refinery and which produces a profitable range of derivatives

But the business model will be different from Phase-2 as compared to Phase-1 which was fully funded by the company

So this is going to be big additional business for EPC contractors