UAE's Takreer Signs US$9.6 Billion Deals

Abu Dhabi The Abu Dhabi Oil Refining Company (Takreer) signed agreements worth US$9.6 billion with four Korean companies to expand its oil refining capacity in Ruwais by the end of 2013.

The agreements are for engineering, procurement, construction and commissioning [EPC] works for five main packages of the Ruwais refinery expansion project, which upon completion would increase Takreer's refining capacity by 417,000 bpd and nearly double its production of transportation fuels.

Takreer currently operates 490,000 bpd name plate refining capacity at its two sites in Abu Dhabi and Ruwais.

Agreements were signed with SK Engineering and Construction Company for the crude oil distillation and associated downstream units package; GS Engineering and Construction Corporation for the residue fluid catalytic cracking unit and associated refining units and marine facilities packages; Samsung Engineering Co. Ltd, for the offsite and utilities package; and Daewoo Engineering and Construction Co. Ltd for the tankage and associated interconnecting piping package.

The Ruwais Refinery Expansion Project is part of ADNOC's strategy to develop its downstream industry to meet future requirements. -Zawya, Gulf News