Jack W. Hanks, President & CEO of MMEX Resources Corp., commented, “We are excited to announce that after several months delay, we have now selected the overall EPC contractor to guide MMEX to financial closing and project completion. Given the current Permian Basin exponential increase in oil and gas drilling and construction, resulting in 30 plus percent cost increases in steel, cement and labor rates, not to mention all the labor shortages, we have searched for the right EPC firm that can give us and our financial partners the confidence to deliver this project on time and on budget. As a Tier I engineering and construction company, BIL can do that. To have Blanchard Industrial on board with MMEX as our partner is a giant step forward.”
MMEX has announced plans to build a crude oil refinery complex in the Permian Basin Pecos County near Fort Stockton, Texas in two phases, with Phase 1 being a 10 000 bpd crude distillation unit which produces diesel, naphtha and residual fuel oil, and Phase 2 being a full-scale crude oil refinery with capacity of up to 10 000 bpd, producing a full slate of refined products.
