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22-10-2012

Samsung Engineering signs major refinery revamp with Luberef

Samsung Engineering Co., Ltd. the first and largest  engineering company in Korea, announced it had been formally awarded the Yanbu  refinery expansion project from Luberef (Saudi Aramco Lubricating Oil Refining Company)  on October 20th in Dhahran, Saudi Arabia. Luberef’s President and CEO Ali A. Al-Hazmi  met with Samsung Engineering’s Executive Vice President of Marketing Kim Dong Woon to ink the $871 million USD deal.

Luberef, a joint venture between Saudi Aramco (70%) and Jadwa Industrial Investment  Company (30%), has commissioned Samsung Engineering for the engineering,  procurement, construction and commissioning of the refinery on a lump sum turn-key basis. Mechanical completion is slated for July 2015.

The scope of work includes a hydrocracking unit (23,000BPD), ISO-Dewaxing complex  (19,000 BPD), a hydrogen manufacturing sulfur recovery complex (95 t/d) among other  additions such as substations and cooling towers. The expansion of the refinery will boost  the overall capacity from 280,000 t/y to 710,000 t/y of base oil.

This award follows several important large-scale Saudi Aramco projects currently being  executed by Samsung Engineering, such as the Shaybah Natural Gas Liquids complex  and Wasit Cogeneration power plant.

At the signing, Executive Vice President Kim Dong Woon stated, “This award is a result of  our expertise in delivering refinery projects and the trust and confidence earned from our  key client, Saudi Aramco. We look forward to solidifying this reputation in Saudi Arabia  through the Luberef project.”

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