Samsung Scores A $1.7 bn Polyolefin Plant Contract

Source: www.gulfoilandgas.com 5/27/2010, Location: Middle East

After receiving the $1.5 billion Shah gas project in April from one of the world's largest national oil companies, ADNOC, Samsung Engineering solidified its reputation as a reliable and experienced contractor after receiving a new $1.65 billion petrochemical project from the client.

On May 26th Samsung Engineering and JV partner Tecnimont (Italy) received a contract for a 1.25 billion USD polyolefin plant and a 400 million USD low density polyethylene (LDPE) plant from Abu Dhabi Polymers Co. Ltd (Borouge), a JV of UAE's ADNOC and Austria's Borealis. Currently Samsung Engineering is executing 7 billion USD in projects with ADNOC.

Samsung Engineering-Tecnimont will head 2 out of 3 packages of the Borouge 3 expansion project for the UAE's Ruwais refinery complex. The expansion project includes the world's largest polyolefin plant, which will produce 900,000 tons of polypropylene and 108,000 tons of polyethylene. The second package consists of a plant that will produce 350,000 tons of LDPE. This lump-sum-turn key project includes design, engineering, procurement, construction and commissioning, and is set for mechanical completion in September of 2013.

Tecnimont, a reputable global player in the EPC industry, was a contractor for the Borouge 2 project and headed FEED for Borouge 3. With the collaboration of Tecnimont's excellent track record and experience in ADNOC projects as well as Samsung Engineering's expertise in project management and it's long-term partnership with ADNOC played a major role in the awarding of these projects.

In the past 7 months alone, Samsung Engineering has obtained 7.1 billion USD in contracts from ADNOC, demonstrating the trust and partnership between the client and contractor through these repeat orders. President and CEO of Samsung Engineering Mr. Park Ki-Seok said, "Samsung Engineering's strength is that the first project with a client usually means many future projects," and expressed confidence in that, "through the strategic approach of collaborating with our competitors, we will expand our markets as well as our services."

Samsung Engineering's relationship with ADNOC started in 2007 with the awarding of the Borouge OCU plant, then in 2009 the Fertil fertilizer plant contract and Takreer refinery plant. This past April, the anticipated Shah gas field development project was awarded to Samsung Engineering. Including the Borouge 3 project, the company will be working on a total of 4 projects with ADNOC in Abu Dhabi and will maximize and integrate the use of its resources such as construction material, equipment and personnel through effective project management.

In 2010 alone, Samsung Engineering has achieved 2.6 billion USD in overseas orders, and will be bidding for several billion dollar scale contracts for the remainder of this year. Based on the company's successful track record, especially in the Middle East region, the company is also in the position for priority negotiation for several projects, including desalination, and water treatment projects. Thus, the company expects to reach its new order target of approximately 10 billion USD this year.


United Kingdom >>  5/9/2022 - - Clean Planet Energy will process hard-to-recycle waste plastic into naphtha, a petrochemical feedstock that can be used in plastic production to sup...
Indonesia >>  4/28/2022 - PT Kilang Pertamina Internasional Plaju Refinery Unit III (Pertamina Plaju Refinery) recorded production that exceeded the first quarter of 2022 targe...

United States >>  4/28/2022 - Kurita America, BASF Corporation, BASF Enzymes, LLC, and Illinois River Energy LLC have settled their legal dispute involving Kurita America’s patents...
Canada >>  4/26/2022 - Aemetis, Inc., a renewable fuels company focused on negative carbon intensity products, announced that an offtake agreement has been signed with JetBl...

Related Categories: Agents, Anti-foaming  Aromatic Solvents  Butene  Cleaning  Corrosion Inhibiting  Crude Oil  Diesel Fuel  Ethylene  Fluids Drilling, Completion, Workover & Stimulation  Fluids/Chemicals  Fracturing Sand  Fuel oil  Gasoline (Lead free)  General  Grout  Jet fuel  Kerosene. Domestic use  Lubricants, Oils & Greases  Nitrogen  Oil Treating & Refining  Polyethylene  Polyvinyl chloride  Propane  Sand, Sandblast  Summer Diesel  Surfactants 

Related Articles: Aromatic Solvents  Butene  Cleaning  Corrosion Inhibiting  Crude Oil  Diesel Fuel  Ethylene  Fluids Drilling, Completion, Workover & Stimulation  Fluids/Chemicals  Fracturing Sand  Fuel oil  Gasoline (Lead free)  General  Jet fuel  Kerosene. Domestic use  Lubricants, Oils & Greases  Nitrogen  Oil Treating & Refining  Polyethylene  Polyvinyl chloride  Propane  Sand, Sandblast  Surfactants 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.