Neste Oil´s Porvoo refinery prepares for major maintenance turnaround

Neste Oil Corporation
Press Release
17 August 2005 at 2:00 pm EET

Neste Oil will carry out a planned five-week maintenance turnaround at its Porvoo refinery starting in the week beginning 22 August when shutting down the refinery’s units will begin. The actual maintenance work will be started on 29 August, and the refinery should be back in normal operation by the end of September.

The turnaround, which is part of the normal maintenance and modernization program at Porvoo, is intended to enable the refinery to retain its high capacity utilization potential over the next five years. Various safety-related statutory pressure vessel inspections will also be carried out, together with other work to ensure that the refinery remains a low environmental impact facility.

During the turnaround, the new production line being built as part of the Diesel project will be tied in to the refinery, in preparation for its startup at the end of 2006. Tie-ins will also be carried out for the new biodiesel plant under construction.

Expansion work on the refinery’s EHVI base oil unit will also be completed during the turnaround. The capacity of the unit will rise some 30,000 t/a to approx. 250,000 t/a when the unit is restarted after the turnaround. EHVI (Enhanced High Viscosity Index) base oil is used in lubricants and has been produced by Neste Oil since 1997.

Safety will be prioritized

Safety is a major priority for Neste Oil during shutdowns, startups, maintenance work and capital projects. Training company personnel for the upcoming turnaround was started in the spring. The employees of outside contractors that will be involved have received comprehensive safety training for the project, emphasizing the importance of safety thinking, following safety instructions, and careful risk assessment on the job.

A total of around 2,300 employed by various contractors will be on site at Porvoo during the turnaround. In all, the turnaround will employ some 3,100 people.

The five-week turnaround and associated loss of production will adversely impact Neste Oil’s financial performance for the third quarter and for 2005 as a whole. In its second-quarter interim report the Company estimated this impact to be EUR 40-60 million on the Group's operating profit.

The previous major maintenance turnaround at Porvoo took place in spring 2001.

Neste Oil Corporation
Osmo Kammonen
Senior Vice President, Communications

For further information:
Jorma Haavisto, Vice President, Porvoo refinery on +358 10 45811

Neste Oil Corporation is a leading independent Northern European oil refining and marketing company, with a focus on high-quality petroleum products designed for cleaner traffic. Neste Oil's refineries are located in Porvoo and Naantali, Finland, and have a total refining capacity of approx. 250,000 bbl/d. Net sales in 2004 totaled some EUR 7,900 million, and the company employs around 4,400 people. Neste Oil is listed on the Helsinki Stock Exchange (symbol: NES1V).