Saturday, 2 December 2017

Samsung Engineering says its consortium secured US$ 4.2 bln order from Bahrain Sitra expansion Project !!

Related imageBahrain Petroleum Company (Bapco) has received bids from international construction companies to expand its Sitra oil refinery, industry sources said.

It aims to boost the processing capacity of the Gulf country’s only oil refinery to 360,000 barrels per day (bpd) from 267,000 bpd under its BAPCO Modernisation Program (BMP) which is expected to cost about $5 billion.

Companies that submitted bids and that have formed consortia are:

1st- Japan’s JGC Corp and South Korea’s GS

2nd - Technip, Tecnicas Reunidas and Samsung Engineering

3rd- Fluor < FLR.N>, Hyundai Engineering and Construction and Daewoo Engineering and Construction

4th - CB&I, Petrofac and Japan’s Mitsui and Co.

Bidding had been expected to close in Last October 2016, however it was extended due to the scale of the project.

The contract is expected to be awarded by the first quarter of 2017 .

The deal would raise Bahrain Petroleum's capacity to refine crude oil to 360,000 barrels per day from the current 267,000 barrels. So Finally Samsung Engineering Co., a major South Korean industrial plant builder, said Friday that its consortium has secured a US$4.2 billion deal to modernize refinery facilities for the Bahrain Petroleum Co. The South Korean company said its stake in the joint project is worth $1.35 billion. It added that the consortium includes French engineering company Technip and Spain's oil engineer Tecnicas Reunidas.

Source :  Yonhap News Agency, South Korea.

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