Samsung Engineering wins $1.85 bln deal to participate in Aramco gas project
SEOUL, AJU - Samsung Engineering has sealed a contract worth $1.85 billion with Saudi Aramco to expand gas processing facilities in the world's largest onshore oilfield in Saudi Arabia, which has diversified its energy mix by cutting the use of crude oil and liquids for power generation while expanding gas production.
Samsung Engineering, which provides a full range of engineering services, said on Tuesday that it would complete construction in 2023 in the Hawiyah Unayzah Gas Reservoir Storage Project. Aramco is expanding the gas processing capacity in Hawiyah.
Samsung Engineering has been involved in a number of projects in the Middle East. In early January, the company teamed up with Tecnicas Reunidas (TR), a Spain-based general contractor, and secured a deal from Algerian national energy company Sonatrach to build a refinery in Hassi Messaoud. Samsung Engineering's share is about 1.9 trillion won ($1.6 billion).