ADNOC Refining, a wholly owned subsidiary of Abu Dhabi National Oil Company (ADNOC) has awarded two contracts worth $3.5bn to Samsung Engineering.
The first contract pertains to a $3.1bn project to introduce crude oil processing flexibility and the second contract is for a $473m project to recover power and water. Both projects will be implemented at the ADNOC-owned Ruwais oil refinery.
The EPC contract for the crude oil processing flexibility project is scheduled to be completed by the end of 2022.
The project will enable Ruwais Refinery-West complex to process 420,000bpd of Upper Zakum crude and similar crude types from the market, allowing ADNOC to export Murban crude, which commands a higher price on global oil markets.
The EPC contract for a new waste heat recovery project is scheduled for completion by the end of 2023. It will generate an additional 230MW of electricity for sale and 62,400m³ of water daily by capturing waste heat, by upgrading four giant gas turbines with closed-cycle power generation technology.
This project is expected to reduce the environmental impact of ADNOC’s refining and power operations and also improve energy efficiency.
ADNOC is investing in new downstream projects to increase its refining capability and expand its petrochemical production three-fold to 14.4mpta by 2025. Projects include a mixed liquid feedstock naphtha cracker, as well as investments in new refinery capacity.
ADNOC will host Downstream Investment Forum in Abu Dhabi on 13 and 14 May 2018 where it will unveil more details of its Downstream Strategy, including the new Ruwais industrial hub masterplan.
UAE Minister of State and ADNOC Group CEO Sultan Ahmed Al Jaber said: “ADNOC has a long and successful history of working with Korean companies as partners in our concession areas, as contractors for our major projects, and as a customer of our crude oil and refined products.
“The award of two major Engineering, Procurement and Construction (EPC) contracts reinforces the strong business relationship that exists between the UAE and Korea.”