McDermott secures engineering and procurement contract from Azikel Petroleum. (Credit: Frauke Feind/ Pixabay.) US-based EPC company McDermott International has secured an engineering and procurement contract from Azikel Petroleum for the next phase of Azikel Refinery project in Nigeria.The modular 12,000 BPD Hydro-Skimming Refinery project will be situated in Yenagoa, Bayelsa State within the Federal Republic of Nigeria.Under the contract, McDermott will be responsible for the detailed engineering and design of the inside battery limits (ISBL) modular refinery.The scope of work also includes the supply of equipment as well as all the tagged items within the ISBL.McDermott Europe, Middle East, Africa senior vice president Tareq Kawash said: “McDermott has been an integral part of what is one of the few refineries to be built in Nigeria and we look forward to expanding our presence further by delivering the next phase of this important project.“Our decades of modularization experience makes us uniquely positioned to deliver this scope and the team has done a great job of developing a simple process design that meets all of Azikel’s product specification requirements.”Equipment will be sourced from US domestic and international suppliers for the refinery projectThe company’s office in Tyler, Texas with support from its Mexico City office is expected to execute the engineering and design work on the project.The equipment for the project will be sourced from US domestic and international suppliers.McDermott said that Azikel has already completed the extensive work to prepare the site to build the project.Site reclamation and backfilling, completion of roads, perimeter wall, drainage and security gates are part of the early work done on the project.Recently, McDermott has been awarded a pre Front End Engineering Design (pre-FEED) contract from 8 Rivers Capital for the NET Power UK project, which will be carried along with the UK Department for Business, Energy and Industrial Strategy. The company will be responsible for the detailed engineering and design of the inside battery limits (ISBL) modular refinery
Andreas Utermann, outgoing CEO of AllianzGIJackie Hunt, member of the Allianz board of management with responsibility for asset management, said Utermann would be missed.“He hands over the leadership of the firm to individuals who are well placed to make the best of the options available to AllianzGI to continue to serve clients well in a period of change within the industry,” she added.Pross has worked for the Allianz Group for 20 years, and has been a member of AllianzGI’s global executive committee since 2015.Zurkow joined AllianzGI in 2012 as CIO and head of infrastructure debt, having been CEO of Trifinium Advisors before that. In a statement, AllianzGI said she had overseen the rapid growth of its alternatives platform, which now accounted for over €80bn in assets under management, and had championed the opportunity for institutional clients to co-invest alongside Allianz in a number of AllianzGI’s private market strategies.Zurkow has been a member of AllianzGI’s global executive committee since 2016.The €557bn asset manager firm said Utermann would be available to his successors on an advisory basis for the first six months of 2020. The leadership changes take effect from the 1 January. Andreas Utermann is to retire from Allianz Global Investors in January, the asset manager announced today.Tobias Pross, currently global head of distribution, will take over as CEO, while Utermann’s chief investment officer responsibilities will be handed to Deborah Zurkow, currently global head of alternatives. As global head of investments, she will report to Pross.Utermann joined Allianz in 2002, initially serving as global head of CIO equities and then becoming global CIO and co-head alongside Elizabeth Corley in 2012. In connection with Corley’s stepping down from the CEO role, Utermann became CEO in 2016, retaining responsibility for investment matters.Utermann said leaving AllianzGI “will not be easy”. “Having had the opportunity to work alongside so many talented and engaging people, to develop and lead a strong team and to build a respected global investment business, is a source of great pride,” he added.