A consortium composed of GS E&C, a South Korean construction company, and its United Arab Emirate (UAE) partner Dodsal has won a US$1.44 billion contract to expand facilities at a crude oil processing plant located about 50 kilometers southwest of Abu Dhabi, GS E&C said Tuesday.
The contract was awarded by the Abu Dhabi Company for Onshore Oil Operations (ADCO), an affiliate of Abu Dhabi National Oil Co. (ADNOC).
GS E&C holds a 51 percent stake in the consortium, and Dodsal has the remaining 49 percent.
At present, the plant is capable of producing 46,000 barrels per day. Once the new facilities are completed, daily output will soar to 85,000 barrels, GS E&C said. Completion is due for late 2016.
The contract was awarded by the Abu Dhabi Company for Onshore Oil Operations (ADCO), an affiliate of Abu Dhabi National Oil Co. (ADNOC).
GS E&C holds a 51 percent stake in the consortium, and Dodsal has the remaining 49 percent.
At present, the plant is capable of producing 46,000 barrels per day. Once the new facilities are completed, daily output will soar to 85,000 barrels, GS E&C said. Completion is due for late 2016.
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