Hyundai Engineering announced on Nov. 30 that it has won a super-large gas plant construction project worth about 2 trillion won from Saudi Arabia’s state-run oil company Aramco.
On hand at the signing ceremony in Saudi Arabia were Kim Chang-hak, president of Hyundai Engineering, and Abdulkarim A. Al-Ghamdi, vice president of Saudi Aramco.
Hyundai Engineering won the Jafurah Gas Plant Utilities project by forming a consortium with Hyundai Engineering & Construction (Hyundai E&C). Hyundai Engineering holds a 55 percent stake in the project, with Hyundai E&C taking the remaining 45 percent.
The project involves building facilities for processing gas and sulfur recovery. The gas comes from the Jafurah gas field, which is located 150km southwest of Damman. The consortium is in charge of a sulfur recovery facility package and utility infrastructure.
Hyundai Engineering has recently won a series of orders based on its competitiveness in front end engineering design (FEED) and project management experiences. In May, it won the Polish PKN Olefin Expansion Project worth 2.7 trillion won. Moreover, it won projects in Russia, the United States, and Malaysia. Hyundai Engineering & Construction also successfully completed the US$1.4 billion Karan Gas Processing Plant in 2012 for Aramco and maintains an amicable relationship with Aramco.
“This order was granted to Hyundai Engineering as we have successfully carried out many projects in the Middle East,” a Hyundai Engineering official said. “We will successfully carry out the project based on synergies between the two companies.”
