| 03 Mar 2010 |
|
Takreer signs four deals worth $9.6b
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Wednesday, Mar 03, 2010
Gulf News
Abu Dhabi The Abu Dhabi Oil Refining Company (Takreer)Abu Dhabi Oil Refining Company (Takreer)
yesterday signed agreements worth $9.6 billion (Dh35.25 billion) with four Korean companies to expand its oil refining capacity in Ruwais by the end of 2013, WAM reported.
The agreements are for engineering, procurement, construction and commissioning [EPC] works for five main packages of the Ruwais refinery expansion project, which upon completion would increase TakreerTakreer
's refining capacity by 417,000 barrels per day and nearly double its production of transportation fuels. TakreerTakreer currently operates 490,000 barrels per day name plate refining capacity at its two sites in Abu Dhabi and Ruwais.
Agreements were signed with SK Engineering and Construction CompanySK Engineering and Construction Company
for the crude oil distillation and associated downstream units package; GS Engineering and Construction Corporation for the residue fluid catalytic cracking unit and associated refining units and marine facilities packages; Samsung Engineering Co. Ltd, for the offsite and utilities package; and Daewoo Engineering and Construction Co. Ltd for the tankage and associated interconnecting piping package. The Ruwais Refinery Expansion Project is part of Adnoc's strategy to develop its downstream industry to meet future requirements.
Growing demand
It will help satisfy a growing demand for high quality petroleum products in the local market as well as boost Adnoc's presence in the international market for finished products.
By Himendra Mohan Kumar
© Gulf News 2010. All rights reserved.
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