BUSINESS

Samsung Engineering signs $1.03b Oman refinery plant deal

By Yonhap
  • Published : Feb 19, 2018 - 10:38
  • Updated : Feb 19, 2018 - 10:38

Samsung Engineering Co., a construction unit of Samsung Group, has signed a deal to build a $1.03 billion refinery plant in Oman by early 2022, the company said Monday.

The builder said it signed the signed the deal with Duqm Refinery and Petrochemical Industries Co. LLC. on Thursday in Oman. It said in a regulatory filing that it will build a 230,000-barrel-a-day refinery facility for the Oman company by Jan. 13, 2022.

Samsung Engineering won the order in August last year and the two sides signed a final contract last week, a company spokesman said.

This map provided by Daewoo Engineering & Construction shows the construction site of a refinery plant as part of the Duqm Refinery Project Package 2 Utilities and Offsite project in Oman. (Yonhap)

Petrofac, a British oil and gas services provider, jointly won the Duqm Refinery Project Package 2 Utilities and Offsite deal valued at $2.08 billion, he said.

Separately, Daewoo Engineering & Construction Co. has also signed a $2.79 billion contract with the DRPIC last week to build a 230,000-barrel-a-day refinery facility in the Duqm Refinery Project EPC-1 deal, the company said in a statement.

In a joint venture with Spanish builder Tecnicas Reunidas, Daewoo E&C will build the plant's main process unit over the next 47 months. The Korean builder has a 35 percent stake in the project, with the remaining 65 percent owned by the Spanish firm, the statement said.

Daewoo E&C earned the order in August last year, it said. (Yonhap)



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