Kuwait awards work to Samsung Engineering for clean fuel project
Samsung Engineering will be responsible for engineering, procurement, construction and pre-commissioning on a lump-sum turnkey basis for the Mina Abdullah #1 refinery package.
Samsung Engineering has entered Kuwait with the KNPC clean
(CFP) worth $3.8 billion,
the company announced on Friday.
The deal was signed the contract at the official signing
ceremony with Kuwait National Petroleum Company (KNPC). The
signing ceremony was attended by Samsung Engineering CEO Park
Choong-Heum and Kuwaits Minister of Oil, Mr. Ali Saleh
Samsung Engineering will be responsible for engineering,
on a lump-sum turnkey basis for the Mina Abdullah #1 refinery
package located in the
Mina Abdullah province, approximately 30 miles southeast of
The entire package will be executed by a joint venture of
Samsung Engineering (42.9%), UKs Petrofac (46.9%) and
CB&I Netherland (10.2%). Samsung Engineerings
contract amount is worth $1.62 billion.
is expected to reach its
completion in 2018. The entire refinery
s project will increase its capacity to 800,000 bpd.
It fills me with great pride and pleasure that we take
part in such a momentous and historic project of Kuwait,"
said Choong-Heum. "Rest assured that Samsung Engineering
will use its expertise so that we may fully contribute to
growth. With our commitment to safety, we will make sure to
deliver the project
successfully and we hope
to create a lasting business relationship with KNPC."