Engineering studies will explore a high-conversion crude oil refinery to serve Bakken oil producers, local liquid fuels and chemicals markets
Vepica, a multinational engineering firm specializing in the energy industry, and Houston-based BASIC Equipment today announced that they have been selected by Irvine, California’s Meridian Energy Group (Meridian) to perform a series of engineering studies to define the design basis, costs and schedule for the Davis Refinery, a high-conversion crude oil refinery to be constructed in Southwestern North Dakota, that will serve Bakken crude oil producers and local liquid fuels and chemicals markets. The Davis Refinery will be only the second “greenfield” refinery constructed in the U.S. since 1976.
According to Meridian, the combination of Vepica’s expertise in refinery engineering, coupled with BASIC’s background in fabrication and turn-key design-construction, will be decisive in establishing substantial competitive advantages for the Davis Refinery.
Upon completion of these studies, Meridian, with BASIC’s and Vepica’s support, will complete its permitting and approval requirements, finalize its full project financing, and make final announcements regarding the commencement of detailed design, procurement, construction and startup of the Davis Refinery.
Founded in 1972, Vepica is differentiated by its willingness to share risk with clients, its ability to competitively bring highly specialized talent and processes to its projects, and other added-value features including working under lump sum and turn-key arrangements from concept through construction, and in special cases providing project financing.
“Ensuring more certainty in both cost and schedule have been hallmarks of our approach and part of an offering, which is highly relevant in today’s economic environment, particularly in major heavy oil and gas projects,” said Franklin Espica, Vepica’s VP of International Business Development.by