Takreer signs EPC agreement with Samsung Engineering

Abu Dhabi Oil Refining Company (Takreer) signed the EPC agreement contract for Carbon Black and Delayed Coker Project in Ruwais with Samsung Engineering on Thursday. The signing ceremony was attended by Sultan Al Mehairi, Director, Marketing and Refining Directorate, Abu Dhabi National Oil Company (Adnoc), Kwon Tae Kyun, Ambassador of South Korea to the UAE, in addition to senior officials from Takreer and Samsung Engineering. The project aims at transforming the overall heavy oil produced by the Abu Dhabi Oil Refining Company’s current refineries and the new refinery, which is under construction in Ruwais into light petroleum derivatives, in addition to the carbon black used by the Abu Dhabi Polymers Company (Borouge) in manufacturing pipelines and cables, as well as Anode quality coke to be used in local aluminum smelters. The project comes within Abu Dhabi National Oil Company’s strategy of diversification of production and more integration amongst its companies, in addition to the supply of necessary raw materials for local industries. The project is expected to be completed in 42 months from the award of the project to Samsung Engineering on July 31, 2012. The project will be executed as a single EPC contract and on turn-key basis. Once completed, the project is expected to enhance the integration amongst local industries in terms of providing raw materials required by local petrochemicals and aluminum companies. It will also increase the profitability of Takreer’s operations as Ruwais Refinery will become a full conversion refinery with diversified production. From Gulf Today