Built to inform

Sign up for the daily newsletters

No, Thank you

Hyundai E&C wins $2.7bn Marjan contracts from Saudi Aramco

South Korean contractor picked to deliver Packages 6 and 12 of Marjan as world's largest oil company confirms $18bn deals

Hyundai E&C has won Saudi Aramco's contracts.
Pixabay
Hyundai E&C has won Saudi Aramco's contracts.

South Korea-headquartered Hyundai Engineering and Construction (E&C) confirmed its receipt of $2.7bn (SAR10.1bn) contracts for Packages 6 and 12 of Saudi Arabian oil giant Saudi Aramco’s Marjan Development Programme, days after the world's largest oil company said it had handed 34 contracts valued at $18bn (SAR67.5bn) for its Marjan and Berri oil field increment programmes.

Hyundai E&C said it was selected as the final bidder following tough competition from global contractors based on “the trust it built with Saudi Arabia through the construction of the Uthmaniyah ethane processing plant” and “excellent technical skills and construction capabilities”, Korean Herald reported. 

Package 6, worth $1.4bn (SAR5.2bn) will see Hyundai E&C expanding the production capacity of an existing refinery, with the contract set to span 41 months.

Once complete, the refinery will have the capacity to produce 300,000 barrels of crude oil per day.

Meanwhile, Package 12 will see Hyundai E&C constructing a utility plant that will supply electricity and water to an onshore plant which processes  2,500 million standard cubic feet of gas per day.

The contract will last for 41 months and is valued at $1.3bn (SAR4.8bn), according to the report. 

American contractor McDermott and Italy's Saipem have each confirmed contract wins as part of Aramco's latest $18bn round of contracts, with Bloomberg reporting that India's L&T, Norway's Subsea 7, and China's Sinopec had also won select packages. 

Most popular

Awards

Construction industry conversations around digitisation must evolve
The Middle East construction industry’s approach to tech must evolve and focus on how can

Conferences

CW In Focus | Inside the Leaders in KSA Awards 2019 in Riyadh
Meet the winners in all 10 categories and learn more about Vision 2030 in this
CW In Focus | Leaders in Construction Summit UAE 2019
A roundup of Construction Week's annual summit that was held in Dubai this September

Latest Issue

Construction Week - Issue 754
Nov 23, 2019