Gulf Oil and Gas accountACCOUNT

Samsung Scores $2.73BN USD Refinery Plant Order

Source: www.gulfoilandgas.com 11/20/2009, Location: Middle East

Share |
Samsung Engineering stated that it had been awarded a $2.73BN USD contract from Abu Dhabi Oil Refining Company TAKREER, an affiliate of ADNOC, for the Utilities & Offsite package 3 of the Ruwais Refinery Expansion Project (RRE).

Set for mechanical completion by April 2013, the package 3 unit is expected to supply utilities into the complex which is expected to produce another 400,000 barrels of oil. Samsung Engineering will perform engineering, procurement and construction on a LSTK (lump sum turn-key) basis for package number 3, which will be located in Ruwais, 250km away from the capital of the UAE.

In October, Samsung Engineering was awarded its second project from ADNOC, a $1.2BN USD fertilizer plant order. The Borouge OCU plant, which was Samsung Engineering's first project with ADNOC, is scheduled for completion by the end of this year. ADNOC has 15 subsidiaries that engage in areas such as E&P, refinery, gas, and petrochemical, with extensive plans to invest several billion dollars annually for these projects.

Samsung Engineering President and CEO Yeon-Joo Jung stated, “We have accumulated outstanding business performance in the world market, allowing us to expand our markets and client base." "This strong partnership with the UAE will allow us to forge future projects with the nation, which ranks as the 5th largest oil and gas reserves in the world," he also remarked.

The investment for the RRE project exceeds $10BN USD, and is to be executed mainly by Korean contractors. Early this November, Korean contractors SK E&C and GS E&C were announced the winners for package #1 & #2 orders. With Samsung Engineering as the recipient of package #3, has further proved the strength of the Korean engineering industry in overseas markets.

From year-to-date, Samsung Engineering has achieved over $8BN USD in new overseas orders this year. Based on an established $10BN USD project capability this year, Samsung Engineering plans to increase its capability over 30% annually.

Oil Treating & Refining News in United Arab Emirates >>

Kazakhstan >>  8/24/2016 - An incident took place within the area of the vacuum distillation unit at the site of the Petromidia Refinery owned by KMG International. ...
Romania >>  8/22/2016 - Four people were injured in a fire and blast at Romania's Black Sea Petromidia crude refinery , deputy Interior Minister Raed Arafat said. ...

Russia >>  8/22/2016 - Gazprom Neft has secured a further 13 patents since the beginning of 2016 in respect of technological innovations in oil refining. The total number of...
China >>  8/20/2016 - The Asian market continued bearish in July, due to weakness seen at the top of the barrel, resulting from pressure by the ongoing oversupply in the re...

Brazil >>  8/17/2016 - Petrobras hereby announces that the Abreu e Lima Refinery (RNEST) beat its processed feedstock record in July 2016, reaching 99.18 thousand barrels pe...
Indonesia >>  8/14/2016 - Oman Oil Company Exploration & Production is planning to build two refineries in Indonesia in collaboration with Jakarta-based Pertamina. According to...

Related Categories: Agents, Anti-foaming  Aromatic Solvents  Butene  Cleaning  Corrosion Inhibiting  Crude Oil  Diesel Fuel  Ethylene  Fluids Drilling, Completion, Workover & Stimulation  Fluids/Chemicals  Fracturing Sand  Fuel oil  Gasoline (Lead free)  General  Grout  Jet fuel  Kerosene. Domestic use  Lubricants, Oils & Greases  Nitrogen  Oil Treating & Refining  Polyethylene  Polyvinyl chloride  Propane  Sand, Sandblast  Summer Diesel  Surfactants 

Related Articles: Aromatic Solvents  Butene  Cleaning  Corrosion Inhibiting  Crude Oil  Diesel Fuel  Ethylene  Fluids Drilling, Completion, Workover & Stimulation  Fluids/Chemicals  Fracturing Sand  Fuel oil  Gasoline (Lead free)  General  Jet fuel  Kerosene. Domestic use  Lubricants, Oils & Greases  Nitrogen  Oil Treating & Refining  Polyethylene  Polyvinyl chloride  Propane  Sand, Sandblast  Surfactants 


United Arab Emirates Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 |

Oil & Gas Projects in United Arab Emirates >>

More News

 

Oil & Gas Companies in United Arab Emirates >>


Related Links

AE BH IL IQ JO KW LB OM QA SA SY YE
Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.