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Samsung Engineering enters Kuwait with clean fuels project valued at USD 3.8bn

14th April 2014

Samsung Engineering has entered Kuwait with the KNPC Clean Fuels Project (CFP) worth USD 3.8bn. The signing ceremony was attended by Samsung Engineering’s CEO and president Park Choong-Heum and Kuwait’s minister of oil, Ali Saleh Al-Omair.

Kuwait Samsung Contract Refinery
Kuwait’s Clean Fuels Project is expected to achieve a production rate of 800,000 barrels per stream day.

Samsung Engineering has entered Kuwait with the KNPC Clean Fuels Project (CFP) worth USD 3.8bn. The signing ceremony was attended by Samsung Engineering’s CEO and president Park Choong-Heum and Kuwait’s minister of oil, Ali Saleh Al-Omair.

Samsung Engineering will be responsible for engineering, procurement, construction and pre-commissioning on a lump-sum turnkey basis for the Mina Abdullah 1 refinery package located in the Mina Abdullah province, approximately 50km southeast of Kuwait City. The entire package will be executed by a joint venture of Samsung Engineering (42.9 per cent), UK’s Petrofac (46.9 per cent) and CB&I Netherland B.V. (10.2 per cent). Samsung Engineering’s contract amount is worth USD 1.62bn. The project is expected to reach its completion in 2018.

The project is expected to achieve a production rate of 800,000 barrels per stream day.

Choong-Heum said: “It fills me with great pride and pleasure that we take part in such a momentous and historic project of Kuwait. Rest assured that Samsung Engineering will use its expertise so that we may fully contribute to Kuwait’s sustainability and economic growth. With our commitment to safety, we will make sure to deliver the project successfully and we hope to create a lasting business relationship with KNPC."

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