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Thu 19 Nov 2009 05:25 PM

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$4.4bn Abu Dhabi oil project contracts awarded

Three South Korean companies win deals for Ruwais Refinery expansion project.

Abu Dhabi Oil Refining Company (TAKREER) on Thursday announced that three contracts worth a total of $4.4bn have been awarded to three South Korean companies for work on the Ruwais Refinery expansion.

TAKREER had earlier announced the award of two contracts valued at $5.2bn.

The latest agreements - for engineering, procurement, construction and commissioning (EPC) works - brings the total value of awarded contracts to $9.6bn.

Fourteen international companies competed for the tenders.

Samsung Engineering Co Ltd was awarded the offsites and utilities package valued at $2.7bn, Daewoo Engineering and Construction Co Ltd won the $1.2bn deal for the tankage and piping package while GS Engineering and Construction Corp was awarded the marine facilities package worth $500m.

The deals complete those to be awarded for the Ruwais Refinery expansion project which aims to increase crude oil refining capacity by 417,000 barrel per day.

TAKREER, a subsidiary of Abu Dhabi National Oil Company (ADNOC), said the project was due to start commercial production by end of 2013.

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