Samsung Engineering inks US$2.76 billion contract in Saudi Arabia
Earlier this week, Samsung Engineering inked a US$2.76 billion contract for the Shaybah NGL (Natural Gas Liquid) project at a signing ceremony held at Saudi Aramco headquarters in Dhahran. The ceremony was attended by key figures, such as Saudi Aramco's Executive Director of Project Management Majid Yousif Mugla and Samsung Engineering's President & CEO Park Ki-Seok.
This NGL facility will be located 800 km south east of Dhahran in Shaybah, and is expected to secure feedstock supplies for the kingdom's hydrocarbon business. The complex will produce 750,000 barrels of oil per day, process gas of 2,400 MMSCFD and recover 200,000 barrels of NGL per day.
Samsung Engineering will provide engineering, procurement and construction for all four units in this plant complex on a lump-sum turn-key basis. Package 1 is the inlet & gas treatment facility, to remove impurities such as sulfur from the gas. Package 2 is the NGL recovery and utility facilities which will recover NGL from the gas. Package 3 is the cogeneration plant to produce power for the facility. Package 4 is the increased gas handling facilities, which are oil and gas separation plants (GOSP). Samsung Engineering is scheduled to achieve mechanical completion by June 2014.