Samsung Engineering Selected as EPC Partner of Saudi Aramco

Partnering with Local Energy Company ARPIC... Executing Aramco Project

At the agreement ceremony held on the 5th at the Saudi Aramco headquarters, (from left) Samsung Engineering President Choi Sung-an, Aramco Vice President Abdulkarim Al Gamdi, and ARPIC Chairman Rashid Al Rushaid are posing for a commemorative photo.

[Asia Economy Reporter Park Sun-mi] Samsung Engineering has been selected as an EPC (Engineering, Procurement, and Construction) partner by Saudi Arabia's national oil company Aramco.

On the 6th, Samsung Engineering announced that it signed an agreement with Aramco for the 'National EPC Champion (NEC)' and was selected as an EPC partner. The signing ceremony took place the previous day at Aramco headquarters during Namath, a Saudi national industrial investment program event, with Namath meaning 'co-prosperity' in Arabic.

Accordingly, Samsung Engineering plans to establish a joint venture locally by investing joint equity with ARPIC, a comprehensive energy specialist company in Saudi Arabia. This joint venture will gain opportunities to secure Aramco projects through direct contracts and contribute to the Saudi industry through local technology transfer and training, local workforce employment, and utilization of local partner companies.

A Samsung Engineering official stated, "This agreement is significant as it marks our selection as a partner in Saudi Arabia's mid- to long-term industrial development," adding, "We have already collaborated on several projects with ARPIC's construction subsidiary, so we expect to maximize collaborative synergy through this NEC."

This content was produced with the assistance of AI translation services.