GS E&C wins $623 million Abu Dhabi refinery deal

GS E&C saw record operating profits for 2009.

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South Korea’s GS Engineering & Construction Corp has won a contract for work on an oil refinery in Abu Dhabi worth US$623 million, the company has announced.

The contract was awarded by the refining unit of Abu Dhabi National Oil Company – known as Takreer. ADNOC is also developing the Shah gas project, a job for which it has hired EPC contractor Al Jaber Energy Services.

The planned pipeline network is 955km in length and will connect the refineries with various terminals in Abu Dhabi.

The project's frontend engineering design (FEED) was completed by Technip, according to a statement from Takreer.

GS E&C is a Seoul-based contractor that covers architecture, civil engineering, housing, plant, environment and power plant, with offices in Abu Dhabi, Kuwait and Qatar.

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The win emphasises the company’s new direction into foreign civil engineering projects. In February the company announced that it would focus on nuclear power plants and overseas power plants.

Last year, GS E&C posted an operating profit of WON569 billion (AED1.768 billion), a company record.