Gulf Oil and Gas accountACCOUNT

Samsung Engineering Wins Aramco Lubricants JV Expansion

Source: Reuters 10/15/2012, Location: Middle East

South Korean group Samsung Engineering is to double the capacity of a Luberef oil lubricants refinery in Yanbu that is majority-owned by Saudi Aramco, two industry sources said.

Samsung competed against South Korean peer Hyundai Engineering and Construction, Italian group Saipem and Spanish company Tecnicas Reunidas for the project, seen costing $1 billion.

The financial terms of the bid were not available.

The sources told Reuters Samsung's win will include another package for propane de-asphalting (PDA).

A Samsung spokeswoman in Seoul declined to comment.

Luberef said recently that commercial production from the expansion will start in the fourth quarter of 2015.

Luberef, 70 percent owned by Saudi Aramco and 30 percent by Saudi Jadwa Industrial Investment, produces around 550,000 tonnes per year of oil lubricants at its two refineries on the kingdom's Red Sea coast at Jeddah and Yanbu.

Engineering Procurement and Construction (EPC) News in Saudi Arabia >>

Russia >>  8/18/2019 - Delighted to announce that our subsidiary “Modcon LLC” has been SRO-certified for the execution of integrated EPC projects in Russia. This will allow ...
United States >>  8/12/2019 - Clough USA is pleased to announce it has secured a Limited Notice to Proceed (LNTP) for a confidential Petrochemical EPC project in the US market. Fu...

China >>  7/25/2019 - The technology group Wartsila has signed an Engineering, Procurement and Construction (EPC) contract for a 100 MW/100 MWh total capacity energy storag...
United States >>  7/25/2019 - KBR (KBR) announced today that, following a Final Investment Decision from Methanex, approval has been given to begin work on the detailed Engineering...

Russia >>  7/23/2019 - TechnipFMC has been awarded a major Engineering, Procurement and Construction (EPC) contract by Novatek and its partners for the Arctic LNG 2 project ...
United Kingdom >>  7/22/2019 - Neptune Energy and its joint venture partners BP and JAPEX today announced TechnipFMC has been awarded an engineering, procurement, construction and i...

Related Categories: Civil Works  Civil Works - Finishing works  Construction Contractors  Electrical Works  Engineering Procurement and Construction (EPC)  Engineering Procurement and Construction Management (EPCM)  General  Mechanical Works  Pipe Lines Installations  Steel Works 

Related Articles: Civil Works  Civil Works - Finishing works  Construction Contractors  Electrical Works  Engineering Procurement and Construction (EPC)  Engineering Procurement and Construction Management (EPCM)  General  Mechanical Works  Pipe Lines Installations  Steel Works 


Saudi Arabia Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 |

Oil & Gas Projects in Saudi Arabia >>

More News

Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.