PROFILE
series of recent, ongoing and forthcoming investments. Upon its takeover of the refinery, the Group enacted both a ‘Day 1’ and a ‘Day 100’ initiative, running in parallel to identify both quick value-added wins and also those areas where more targeted investment was needed. The Prax Group also employed the services of specialist consultants to investigate the kinds of strategical projects that could be prepared in readiness for the refinery’s next Turnaround and Inspection period in 2023. “We have made a strong commitment to invest each year to adapt the facility further in order to improve upon safety and reliability, and to adequately respond to the market,” Luc continues. “This year, our project to upgrade to the feed for HDS3 (one of the refinery’s hydrodesulphurization units) will commence, which will lead to the production of cleaner, lighter fuels. In the meantime, we will be bringing more tanks back into service, bringing back storage on site, and looking to maximizing our opportunities by boosting production and the throughput of the refinery units. Overall, it makes for a very exciting time for the refinery.” As Luc goes on to state, the Prax Group is very much a global organization, and one that has its eyes fixed on being positioned right across the energy supply chain. “The Group is ambitious in that it wants to be involved in all facets of the oil and gas mix, from refining to upstream, and from trading to distribution, and the Prax Lindsey Oil Refinery really represents the missing piece of the puzzle in achieving this vision,” he says. “In fact, it is more than fair to describe the refinery as both the beating heart of the system and the jewel in the Prax Group’s crown. “Of course, that beating heart would be nothing without the people whose job it is to ensure that the refinery operates to its full potential on a daily basis, and that is what makes our people here at the refinery our greatest asset. There is a tremendous amount of knowledge, skills and talent here at the refinery, and as an independent, dynamic, flexible, and fast-moving organization, the Prax Group sets great store on the entrepreneurial approach to creating value that is shared by the team. As such, our people at Prax Lindsey Oil Refinery can be confident of knowing that they will be at the center of the all the exciting plans that Prax Group has for the future.” The Prax Group itself is still in what Luc describes as a ‘growth phase’, meaning that there will be significant investment to be made in all of its assets in the years to come.
PRAX LINDSEY OIL REFINERY
“The Group recognizes the importance of the refinery to the UK’s national infrastructure and its key role in securing energy for both the local area and the country as a whole,” Luc declares. “The acquisition of the refinery will bring about new investment to the region – where it is a major facilitator of employment, both directly and through those employed across the supply chain – and underlines the Group’s determination to support the local economy and the wider community.”
Prax Lindsey Oil Refinery www.praxrefining.com ......................................... Services: Oil refinery
ENERGY,OIL&GAS
energy-oil-gas.com
23