$4.4bn Abu Dhabi oil project contracts awarded

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.