06. SK Engineering & Construction
SK Engineering & Construction announced in August 2017 that it has signed a deal worth $1.6bn with Iran’s Tabriz Oil Refining Company to renovate the Iranian company’s refinery. The project involves upgrading Tabriz Oil Refining Company’s 110,000bpd refinery, which is located in the northwest of Tehran.
A consortium of SK Engineering & Construction and Iran’s Oil Design Construction Company, according to the agreement, would finance and implement the renovation project to increase the refinery’s gasoline and diesel production capacity. Once the consortium breaks ground on construction, the project is scheduled to be completed within 36 months.
SK Engineering & Construction has gained an international reputation for its technology and construction capability, consolidating its position by participating in various projects.
07. Hyundai Engineering Co
Hyundai Engineering Co was awarded in March 2016 the Al-Zour LNG import terminal project, the construction of a regasification facility in Al-Zour capable of liquefying 30 billion M3 of natural gas a day, eight 225,000M3 LNG storage tanks, and also includes marine facilities. Hyundai Engineering Co is responsible for building the regasification plant, Hyundai Engineering & Construction for the construction of the LNG storage tanks and marine facilities, and Korea Gas Corporation (KOGAS) for commissioning of the plant and training for the client. Expected to take 58 months, the construction is to be completed by 2020. Of the $3bn, S1.39bn will be paid to Hyundai Engineering Co, $1.52bn to Hyundai Engineering & Construction, and $16mn to KOGAS. Hyundai Engineering does engineering work covering the entire project life cycle, including feasibility study, basic and detailed design, procuring, commissioning and operation.
08. Samsung Engineering
Samsung Engineering, in a 50/50 joint venture with Petrofac, has received notification of intent to award a contract worth approximately $2bn with Duqm Refinery and Petrochemical Industries Company (DRPIC) in the southern part of Oman.
Work on the 47-month project will commence shortly, subject to financial closure and full notice to proceed from DRPIC. Samsung’s and Petrofac’s scope of work includes engineering, procurement, construction, commissioning, training and start-up operations for all the utilities and offsites at Duqm.
Founded in 1970, Samsung Engineering has grown from a modest domestic engineering firm to a globally recognised name in the EPC market.
09. GS Engineering & Construction
In June 2017, GS Engineering & Construction announced that it has won an order worth $865mn to restore the fire-hit refinery unit owned by ADNOC. GS Engineering & Construction aims to complete the work by early 2019. ADNOC restarted crude distillation and associated units after the fire, but gasoline and propylene production have been partially reduced.
As a result of experience and technical expertise gleaned from construction of domestic and overseas plants, GS Engineering & Construction is recognised as one of the world leaders in the plant EPC business.
The company is currently focusing on businesses such as gas, petrochemical, waste and water treatment plants, and refineries.
10. Hyundai Engineering & Construction
Hyundai Engineering & Construction signed a contract in October 2016 to build a project for Saudi Aramco’s Uthmaniyah plant for $727mn. The contract is expected to be completed by November 2019. The aim of the Uthmaniyah project is to recover ethane as well as propane and other natural gas liquids (NGL) from 1.4bscf/d of sales gas. Uthmaniyah is part of Ghawar, the world’s largest onshore oilfield, with a processing capacity of 2.5bscf/d.
Hyundai Engineering & Construction is a major construction company in South Korea. The company was founded by in 1947 and played a major role in bringing Korean labourers to the Middle East to work on construction projects in the 1970s and 1980s.