Samsung Engineering adds massive ADNOC contracts
7 May 2010
London – ADNOC (Abu Dhabi National Oil Co. ) has awarded Samsung Engineering a $1.5bn gas development contract covering petrochemical and refinery projects and gas processing and fertiliser facilities.
The UAE national oil company has now awarded a total of three contracts worth $5.4bn awarded to Samsung in the past six months. The Korean group was also selected as interface manager and coordinator of the $10bn gas development project from ADNOC.
Samsung will head all engineering, procurement, construction and pre-commissioning on a lump-sum-turn key basis to build an offsite and utilities facility for the 1 billion cubic feet per day gas development complex. The facility is in the Shah region, 180 km southwest of Abu Dhabi and is set for mechanical completion on August 2013.
Last month, ConocoPhillips ended its participation in developing the Shah Gas Field with ADNOC, having previously considered taking a 40% stake in the project.
ADNOC comprises 15 companies that cover the entire hydrocarbon supply chain from exploration & production, refinery, and gas to petrochemical. Its relationships with Samsung began with the Borouge OCU plant project in 2007, and has since included the $1.2bn Fertil fertiliser plant contract in October 2009 and $2.7bn Takreer refinery plant contract in the final quarter of last year.
