GS E&C consortium wins $1.44 bln UAE crude oil processing plant deal
GS Engineering & Construction, one of South Korea’s leading builders, said Tuesday it won a US$1.44 billion crude oil processing plant deal in the United Arab Emirates (UAE) by forming a consortium with a local partner.
The company said the third phase of the Rumaitha-Shanayel oil field expansion project calls for GS to build most of the facilities related to crude oil processing, with its partner Dodsal to take charge of designing and constructing the crude oil and gas pipelines and support facilities.
The South Korean builder’s share of the project, ordered by the Abu Dhabi Company for Onshore Oil Operations, stands at $730 million. Work on the new facilities, to be built some 50 kilometers southwest of Abu Dhabi, is expected to be completed by November 2016.
GS E&C said it holds a 51 percent stake in the consortium, with Dodsal controlling the rest.