ADNOC has awarded the first contracts for the Ruwais refinery project, which will boost its crude oil processing capacity by 417,000 barrels per day.
The two contracts are worth a total of US$5.2 billion and have been won by Korean firms SK Engineering and GS Engineering.
SK Engineering was awarded the crude distillation unit and associated downstream units contract for a total value of US$ 2.1 billion. GS Engineering and Construction Corp won a deal worth $3.1bn for the residue fluid catalytic cracking unit and associated refining units.
SK Engineering has announced it will deliver the distillation unit at the start of 2014.
Eight companies competed for these two contracts. The other contracts comprise of offsite and utilities, tankage and associated interconnecting piping, marine facilities and non-process buildings and will be concluded shortly.
The new refinery will double ADNOC’s export surplus of naphtha by 2013.