Samsung Engineering, a leading engineering, procurement, construction and project management company, said its joint venture with Technip Energies and Tecnimont, has secured an early engineering and procurement works contract from Abu Dhabi National Oil Companny (Adnoc) at one of its onshore facilities.
Announcing the contract win, Samsung Engineering said its joint venture, TST, had received a letter of award (LoA) from Adnoc to deliver pre-construction services for its Hail & Ghasha Gas Development Project.
The overall contract which is valued at $80 million will also see the Samsung JV prepare an open book estimate for the full project delivery scope, which will be considered as part of the client’s final investment decision making process.
The awards come as Adnoc accelerates gas expansion, as part of its low carbon growth strategy to continue responsibly meeting global energy needs.
Samsung Engineering’s regional presence through its global operations network and successful implementation of innovative solutions in the past with Adnoc projects proved to be key in being entrusted to participate in this mega-project, said its top official.
“We are proud and honoured to receive these early awards and be involved in one of Adnoc’s flagship megaprojects,” remarked its President and CEO Hong Namkoong.
“Based on our expertise in the UAE market, extensive know-how in gas development projects, as well as our own unique project delivery solution under the ‘Ahead’ execution model, we, together with our joint venture partners, are confident in executing the project successfully and meeting the expectations of Adnoc and their international concession partners,” he added.
The Korean group’s proven track record in the UAE includes 10 projects such as the Borouge-3, Fertil-2 Ammonia & Urea Complex and more recently the Adnoc Refining Crude Flexibility Project.
Most notably, the company has already executed a gas megaproject for the Abu Dhabi oil company, the Shah Sour Gas Development, which has similar production capacity as Hail and Ghasha Gas Development Project.