Grupa LOTOS S.A. - Integrated Annual Report 2012
Our plan of action is to implement the strategic objective of increasing the conversion ratio and intensifying crude processing, provided that in 2012 the front-end engineering design phase is begun for the complex of refining units which would be processing the heavy residue from crude oil processing into high-value products. Towards the end of 2011, a growth option was selected that consists in the construction of a coking unit. Then, in 2012, a licence for the coking process was selected and purchased, and the front-end engineering design for the unit was developed. Technologies for the accompanying processes were also purchased and a number of necessary analyses were prepared, along with a method statement. The process of selecting utilities suppliers and product customers was then begun. In 2013, an integrated conceptual design for the entire project will be developed, the terms and conditions of utilities' supplies and product acceptance will be agreed upon, and steps will be taken to secure appropriate financing for the project.
Construction of the coking unit will be a major investment challenge for Grupa LOTOS until 2015. Other important projects are at the decision-making stage, including a hydrogen recovery unit and a sea cargo handling terminal on the Martwa Wisła for petroleum products.