Hyundai Engineering & Construction (Hyundai E&C) has secured a contract worth Won4.39tn ($3.16bn) to construct a seawater treatment plant in Iraq.
This project forms part of the Common Seawater Supply Project, which aims to enhance crude oil production in Iraq’s southern oil fields by injecting seawater into oil reservoirs.
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The facility will have a daily processing capacity of five million barrels and will be located at Khor Al Zubair Port, situated around 500km south-east of Baghdad.
The freshwater generated from this plant will be directed to nearby oil fields, including West Qurna and Rumaila.
This initiative involves joint investment from France’s TotalEnergies, QatarEnergy LNG, and Iraq’s Basra Oil Company.
Hyundai E&C anticipates that the construction will be completed within 49 months.
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By GlobalDataThis contract is said to represent Hyundai E&C’s most significant project in Iraq, following the completion of a $6bn oil refinery in Karbala in 2023.
In an official statement, Hyundai E&C said: “This contract was primarily driven by the strong trust placed in Hyundai E&C, which has carried out major national projects in Iraq over the years, contributing to economic growth despite challenges such as wars and Covid-19.”
In 2023, Hyundai E&C and Hyundai Engineering commenced construction of one of the world’s largest petrochemical facilities in Ulsan, South Korea.
The ground-breaking ceremony was held in February, with completion expected in 2026.
The Shaheen project, developed by S-OIL, a subsidiary of Saudi Arabia’s Aramco, is being constructed at S-OIL’s Ulsan refinery with an investment of Won9.26tn.
