SK Engineering & Construction Awarded USD
624 Million Kuwait Oil Company Construction
Project Contract
Assignment Requires Design
and Reconstruction of Crude-Oil Gathering
Center Damaged During Gulf War.
Korean Company Has Been Awarded $3.2 Billion
Worth of Projects in Kuwait over the Past
Decade
Seoul, March 27, 2007 - SK Engineering &
Construction Co., Ltd. (SK E&C) announced
today that it is the sole recipient of a USD
624 million project with KOCKOC (Kuwait Oil
CompanyKuwait Oil Company), a state-owned
oil enterprise of Kuwait. SK E&C prevailed
in the bidding competition among six
international companies. The project will
involve the design and reconstruction of a
crude-oil gathering center damaged during
the Gulf War of 1990-1991.
Activities involved in this turnkey project,
which will be located 50 kilometers north of
Kuwait City in the Sabriyah field, include
the design, procurements, engineering, and
reconstruction of GC-24 (Gathering Center).
Upon completion - anticipated in 42 months -
GC-24 is expected to produce 165,000 barrels
of crude oil per day.
"This deal not only illustrates SK E&C's
reputation as a leader in plant
construction, but also the company's growing
stature as a preferred major construction
partner for global industry players ," said
Mr. Yoo Woong Suk, President and CEO of SK
E&C. He also said, "SK E&C will continue to
pursue the major construction opportunities
that deliver strong returns to shareholders
and that enhance the company's position as a
top-tier, global engineering and
construction company."
Over the past ten years SK E&C has been
awarded nine major construction projects in
Kuwait (including this current one) - the
contracts of which have an approximate total
value of USD 3.2 billion. The company's
expertise and experience in the engineering
and construction field are widely recognized
in 16 different countries around the world,
including the Middle East, Mexico, and
Indonesia where it holds or previously held
business projects.
Gathering Center:
A gathering center is a facility which
stores crude oil and gas generated from well
heads scattered near the facility. Once
black oil is produced from the well heads,
it gets collected in the gathering center
and then it is separated to crude oil and
gas with moisture and salt extracted. After
this process, the oil and gas are sent to
storage facilities.
SK Engineering and Construction
Korea-based SK E&C has achieved excellence
in housing, building construction, civil
engineering and plant works since 1977. The
company's competitive advantage lies in the
development of cutting-edge engineering
methods, highly advanced systems and an
accumulation of experience and expertise in
Korea and abroad.
SK E&C has earned global recognition for its
ability to build world-class petrochemical
plants, industrial plants, nuclear-power
plants and chemical- power plants. With a
track record in 16 countries, SK E&C is
currently exploring new overseas markets in
the Middle East, Thailand, China, Indonesia,
Vietnam and Laos.
Contacts at SK
Kweon Su Kim
Manager of PR Team
SK Engineering & Construction
Tel. (82)2 3700-7042
Mobile (82)2 11-230-8957
Email
kim8957@skec.co.kr
Katharine Junghae Kho
Head of Global PR Team
SK Group
Tel. (82)2 2121-5449
Mobile. (82)11-9122-8343
Email.
kath@skcorp.com .