Hyundai Engineering & Construction (HDEC) sets to expand its portfolio into the construction of offshore plants, a field in which global leading construction companies run into stiff competition over state-of-the-art technologies. South Korea's primary builder, HDEC, received a deal valued at about $1.89 billion, from Abu Dhabi Marine Operating Company (ADMA-OPCO) to undertake "SARB-4," an offshore crude oil and gas processing project, and signed the contract in United Arab Emirates recently.
Officials including ADMA-OPCO CEO Ali Rashid al Jarwan and HDEC CEO Jung Soo-Hyun attended the signing ceremony to wish the successful construction of the large-scale offshore oil processing facilities. The SARB (Satah Al-Razboot) offshore crude oil and gas processing project involves the construction of facilities to transfer oil drilled on 86 wells of the Satah Al-Razboot offshore oil field, 120 kilometers northwest of Abu Dhabi.
SARB Full Field Development is a strategic initiative of ADNOC within the context of its oil production enhancement plans and Abu Dhabi's broader development strategy. The development project is part of the overall scheme of ADMA-OPCO to add 300,000 barrels a day (b/d) of additional production from its new offshore fields, with about 100,000 b/d coming from SARB oilfield to be developed through 7 packages.
Oman Daily Observer