Samsung Engineering signs official contract for a $2.7 billion USD refinery plant order in the UAE

abarrelfull wrote on 24 Sep 2012 13:28
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Mar 3, 2010

Samsung Engineering officially signed a $2.73 billion USD package for a refinery plant contract with UAE's national oil company ADNOC subsidiary TAKREER (Abu Dhabi Oil Refining Company) on March 1st, 2010.

The CEO of ADNOC, UAE's national company, H.E. Yousef Omair Bin Yousef and Takreer's CEO Mr. Jasem Ali Al. Sayegh attended the signing ceremony in which Samsung Engineering CEO Ki-Seok Park said, "This is the result of Samsung Engineering's continuous effort and client-oriented mindset. With the successful completion of this project, we will further solidify our long-term partnership with ADNOC."

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, 250 km away from the capital of the UAE.

Samsung Engineering was praised for having close communication with clients and flexible use of resources that enabled efficient project execution with ongoing ADNOC projects such as Borouge and FERTIL.

In 2009, Samsung Engineering achieved a historic milestone by obtaining over $8 billion USD in overseas orders. Samsung Engineering will continue to expand its market and clients by widening its business portfolio in 2010.

• Samsung Engineering signs official contract for a $2.7 billion USD refinery plant order in the UAE

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