Samsung Engineering JV wins US$3.1 billion UAE refinery project

Samsung Engineering said its joint venture with CB&I Nederland, has been awarded a major contract by Abu Dhabi National Oil Company (Adnoc) to build a crude flexibility project for its Adnoc Refining unit in the UAE capital.

One of the world’s leading engineering, procurement, construction and project management companies, Samsung Engineering said at a value of US$3.1 billion, it is the ninth award in total the company has received from Adnoc, the national oil company of the UAE and the parent company of Adnoc Refining.

As per the deal, the Samsung Engineering JV will construct a new atmospheric residue de-sulfurization (ARDS) facility, with a capacity of 177,000 barrels per day. The Korean company’s share in the contract is US$2.6 billion, according to a statement from the company.

Work will soon start on the project, which will come up at the Ruwais Industrial Complex (the largest industrial complex in the UAE). It is due for handover by the end of 2022.

Samsung Engineering has previously delivered six projects in the Ruwais complex, two of which are directly linked to the CFP, said a top company official.

“Therefore, not only is it possible to fully utilise the existing experienced manpower, equipment, facilities and partner network, but also build on our strong relationship with Adnoc Refining,” remarked Sungan Choi, president and CEO of Samsung Engineering.

“We were able to win this project based on our track record of delivering safely and on schedule,” stated Choi.

“We will do everything in our power to successfully execute the CFP by utilising our global experience in the refining sector,” he added.

(EOG)

Subscribe to Get the Latest Updates from EOG  Please click here