SK Engineering & Construction awarded USD624 million Kuwait Oil
Company construction project contract
SK Engineering & Construction Co., Ltd. (SK E&C) announced today
that it is the sole recipient of a USD624 million project with KOC
(Kuwait 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
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.
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
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
Katharine Junghae Kho
Head of Global PR Team
Tel. (82)2 2121-5449
Kweon Su Kim
Manager of PR Team
SK Engineering & Construction
Tel. (82)2 3700-7042
Mobile (82)2 11-230-8957