Samsung Engineering scores a multi-billion dollar refinery plant order in the UAE |
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After receiving a $1.2BN USD Fertilizer plant order last month from FERTILFERTIL
, a subsidiary of ADNOCADNOC, Samsung EngineeringSamsung Engineering has once again obtained a mega-plant order in the region. ■ On November 20, 2009, Samsung EngineeringSamsung Engineering stated that it had been awarded a $2.73BN USD contract from Abu Dhabi Oil Refining CompanyAbu Dhabi Oil Refining Company TAKREERTAKREER, an affiliate of ADNOCADNOC, 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 EngineeringSamsung 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 EngineeringSamsung Engineering was awarded its second project from ADNOCADNOC, a $1.2BN USD fertilizer plant order. The Borouge OCU plant, which was Samsung EngineeringSamsung Engineering's first project with ADNOCADNOC, is scheduled for completion by the end of this year. ADNOCADNOC 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 EngineeringSamsung 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 EngineeringSamsung 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 EngineeringSamsung Engineering has achieved over $8BN USD in new overseas orders this year. Based on an established $10BN USD project capability this year, Samsung EngineeringSamsung Engineering plans to increase its capability over 30% annually.
- Ends -
About TAKREERTAKREER (Abu Dhabi Oil Refining CompanyAbu Dhabi Oil Refining Company)
TAKREERTAKREER was established in 1999 to take over the responsibility of refining operations from ADNOCADNOC, Abu Dhabi's National Oil Company. This covers the crude oil and condensate refining, supply of petroleum products and production of granulated sulphur.
About Samsung EngineeringSamsung Engineering Co LTD
Samsung EngineeringSamsung Engineering is the first and largest engineering, procurement and construction company in Korea and provides a full range of engineering services from feasibility studies, engineering, procurement, construction to commissioning. With a presence in worldwide markets such as the Middle East, Asia, Southeast Asia, Central America & South America. Samsung EngineeringSamsung Engineering specializes in hydrocarbon, industrial, environmental and infrastructure plants & facilities.
© Press Release 2009
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Companies
| Company Name | Country | Industry |
| Consolidated Contractors Company | Overseas | Construction and Design |
| Zuhair Fayez Partnership Consultants | Saudi Arabia | Construction and Design |
| Saudi Binladin Group | Saudi Arabia | Construction and Design |
| Saudi Electricity Company | Saudi Arabia | Electric Utilities |
| Saudi Telecom | Saudi Arabia | Telecommunications Services |
| Barwa Real Estate Company | Qatar | Landlords and Developers |
| Abu Dhabi Oil Refining Company | UAE | Oil |
| Ministry of Health - Kuwait | Kuwait | Ministries and Municipalities |
| Dubai Electricity and Water Authority | UAE | Electric Utilities |
| Ministry of Health - Saudi Arabia | Saudi Arabia | Ministries and Municipalities |
Projects
| Project Name | Country | Sector |
| ENEC - Nuclear Power Plant | UAE | Power and Water |
| Abu Dhabi DOT - Abu Dhabi Metro | UAE | Infrastructure |
| Takreer - Ruwais Refinery Expansion | UAE | Oil and Gas |
| Aramco/Dow Chemical - Ras Tanura Integrated Refinery and Petrochemicals Complex | Saudi Arabia | Oil and Gas |
| SATORP - Jubail Refinery and Petrochemical Complex | Saudi Arabia | Oil and Gas |
| Abu Dhabi Ports Company - Khalifa Port and Industrial Zone (KPIZ) | UAE | Infrastructure |
| Emirates Aluminium (EMAL) - Smelter Complex - Phase 1 | UAE | Industry |
| Dubai RTA - Dubai Metro | UAE | Infrastructure |
| ADNOC/ConocoPhillips - Sour Gas Fields Development - Shah Field | UAE | Oil and Gas |
| Dubai Racing Club - Meydan City - Meydan Racecourse | UAE | Real Estate |
samsung is a good company and proved its success specially in saudi arabia where it has outperformed many EPC contractors in deleivery of the project. I epxecte them to continue to lead. their other korean rivals are also performing excellent and shall continue to lead however limited with their capacity unlike samsung which has continually expanded its capabilities. despite the fact that korean contractors are fast and known of delivery on time care must be taken to supervise quality and performance as corruption exist in contracting business where it may be more visible in the korean contractors and eastern in general. Owner's management team is a must to ensure the success of the project. [Report Abuse | Email to a Friend | Reply to this Comment]