Samsung, CB&I for $3bn ADNOC refinery
Joint-venture chosen by UAE oil company to build new facility at Ruwais Industrial Complex
Abu Dhabi National Oil Company (ADNOC) has chosen a joint venture of South Korea’s Samsung Engineering and Netherlands-based CB&I Nederland for a $3.1bn oil refinery project in the UAE.
The Crude Flexibility Project (CFP) will be built at the Ruwais Industrial Complex in Abu Dhabi and Samsung’s portion of the contract is worth $2.6bn, according to news reports. The joint venture will be responsible for constructing a new Atmospheric Residue De-Sulfurisation (ARDS) facility, with an annual capacity of 177,000 barrels per day.
Samsung Engineering has previously delivered six projects in the Ruwais complex – the largest industrial complex of its kind in the UAE – two of which are directly linked to the CFP.
The company said that as a result of its previous projects in the complex, it will be able to use its existing experienced manpower, equipment, facilities and partner network to execute this project, which is expected to be completed by the end of 2022.
