Samsung for $3 billion UAE refinery
21 February 2018
South Korean-based firm Samsung Engineering has been chosen for a US$3.1 billion oil refinery project in the United Arab Emirates (UAE).
The contract was secured in partnership with Netherlands-based CB&I Nederland as a joint venture partner. Samsung’s portion of the contract is worth $2.6 billion.
The Crude Flexibility Project (CFP) will be built at the Ruwais Industrial Complex – said to be the largest industrial complex in the UAE – on behalf of ADNOC (Abu Dhabi National Oil Company), the national oil company of the UAE.
The joint venture will be responsible for constructing a new Atmospheric Residue De-Sulfurisation (ARDS) facility, with an annual capacity of 177,000 barrels per day.
Samsung Engineering has previously delivered six projects in the Ruwais complex, two of which are directly linked to the CFP. As a result, the company said it would be able to use existing experienced manpower, equipment, facilities and partner network to execute this project, which is scheduled for completion by the end of 2022.