Samsung Engineering Secures $500 Million EPCC Contracts from Thailand’s PPT
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Korean giant Samsung Engineering has secured two contracts worth $500m from two subsidiaries of Thailand’s state-owned oil & gas company PPT.
The two contracts include a petrochemical project and a power generation project. The power generation project will be located in Rayong, 150km southeast of Bangkok.
For the two projects, Samsung Engineering will provide engineering, procurement, construction and commissioning (EPCC) on a turn-key basis. While, the power generation project could be delivered in 2019, the petrochemical project is expected be completed in 2020.
No technical details about the projects were disclosed by Samsung Engineering. Till now, the Korean company has delivered 21 projects to Thailand, including 17 projects to PTT group.
“Together hand in hand with PTT, we are privileged to execute these two prestigious projects,” said Samsung Engineering President and CEO Choong Heum Park.
“With the continuous trust and opportunity given, Samsung Engineering will do our utmost efforts to deliver top class plants for Thailand.”
Recently, Samsung Engineering has secured a contract from the Duqm Refinery Petrochemical Industries Company (DRPIC) for the Duqm refinery project, located in the southern part of Oman. The proposed refinery will have a planned capacity of 230,000 barrels-day (b/d).
Samsung Engineering has won the contract, in a 50/50 joint venture with Petrofac with a total order value of about $2bn.
To diversify risks and to strengthen business performance, Samsung Engineering has teamed up with Petrofac in the mega project.
Park said: “Samsung Engineering has already accomplished several large U & O projects. We will be able to successfully complete this project and further strengthen our market presence in the GCC, including Oman.”
Source: (August 17, 2017) Energy Business Review
To stop by Samsung Engineering’s website, CLICK HERE
To stop by PTT’s website, CLICK HERE
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