Technip Energies Wins €250M–€500M EPC Contract for HPCL’s Mumbai…

Event summary

Technip Energies secured a large EPC contract (€250M–€500M) from HPCL for the Mumbai Refinery’s Lube Modernization and Bottom Upgradation (LMBU) project.
The contract includes a 550 KTA Integrated Hydrocracker and Catalytic Dewaxing (IHCD) unit and an 850 KTA Solvent Deasphalting (SDA) unit.
The project aims to modernize lube oil base stock production and upgrade heavier refinery streams into higher-value products.
The order will be recorded in Technip Energies’ Project Delivery segment backlog in Q3 2026.

The big picture

The contract reflects India’s push to modernize its refining infrastructure to meet growing domestic demand for fuels and specialty petroleum products. Technip Energies’ role in this project underscores its expertise in refinery modernization and complex project execution, positioning it as a key player in the energy transition. The deal size (€250M–€500M) highlights the scale of investment in upgrading existing refining assets to improve resource utilization and long-term competitiveness.

What we're watching

Execution Risk: How Technip Energies will manage the integration of new units with existing facilities at the Mumbai Refinery.
Market Dynamics: Whether India’s refining modernization efforts will sustain demand for large-scale EPC contracts.
Strategic Positioning: The pace at which Technip Energies can leverage this contract to strengthen its relationship with HPCL and secure future projects.