Samsung Engineering Holds Contract Signing Ceremony for 1.45 Trillion KRW Saudi Gas Project

Samsung Engineering President Choi Sung-an (left in the photo) and Aramco Jafurah Project Manager Vice President Abdulkarim Al Gamdi are posing for a commemorative photo. (Photo by Samsung Engineering)

[Asia Economy Reporter Jeong Hyunjin] Samsung Engineering and Saudi Arabia's state-owned oil company Aramco announced on the 1st that they held a contract signing ceremony for the 'Jafurah Gas Processing Package 1 Project' worth 1.45 trillion KRW.

The event took place on the 29th of last month at Aramco headquarters in Dhahran, Saudi Arabia, attended by Saudi Crown Prince and Minister of Energy Abdulaziz bin Salman, Aramco President Amin Nasser, and Samsung Engineering President Choi Sung-an. Samsung Engineering explained that the contract amount for this project is 1.23 billion USD (approximately 1.45 trillion KRW).

This project is part of the development of the Jafurah shale gas field located 400 km east of Riyadh, the capital of Saudi Arabia. Samsung Engineering is responsible for constructing a gas processing facility that processes 1.1 billion cubic feet (ft³) of gas mixture per day, removing acidic gases such as sulfur compounds and impurities to produce high-purity gas, with completion scheduled for 2025.

President Choi said, "We are pleased to participate in Saudi Arabia's first shale gas development project," adding, "By applying the company's innovation strategies such as modularization, automation, and front-end loading system, we will successfully complete the project and contribute to achieving Saudi Vision 2030."

With this order, Samsung Engineering has recorded a total of 16 Aramco projects worth 14 trillion KRW (11.9 billion USD) in cumulative orders. Samsung Engineering established its relationship with Aramco by winning the DHT (Diesel Hydrodesulfurization) project in 2007. As of the end of November, Samsung Engineering announced that it has recorded approximately 6.6 trillion KRW in cumulative orders, exceeding this year's order target of 6 trillion KRW ahead of schedule.

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