Feb 12 | 2020
(MENA) Saudi Gas Storage Project
National energy company Saudi Aramco has selected Korean contractor Samsung Engineering for the development of a gas reservoir storage project in Saudi Arabia.
The firms signed a US$1.85 billion deal for the Hawiyah Unayzah Gas Reservoir Storage, or HUGRS, project, located 260 kilometers east of the capital Riyadh.
“Samsung Engineering is honored to receive this contract and believes that our previous regional experience, engineering excellence and partnership with the client lead to this order,” said Sungan Choi, CEO of Samsung Engineering.
1,500 MMSCFD
Scope for work for the ambitious HUGRS project involves construction of a gas injection facility equipped with booster compressors, capable of processing 1,500 million standard cubic feet of gas per day.
“Continuing to provide safe and quality projects, Samsung Engineering will ensure that this project will leave a mark in Saudi Arabia and will lead to building on our position in the Middle East overall.”
Headquartered in Seoul, South Korea, Samsung Engineering provides a range of engineering services from feasibility studies and design through procurement, construction, and commissioning.
Downstream Investment
The development of the HUGRS facility is part of a push by Saudi Arabia to develop it domestic downstream infrastructure, which is supporting a raft of breakbulk activity across the country.
One of the largest oil firms in the world, Saudi Aramco has doubled down on domestic investment under the Kingdom’s 2030 Vision program, with plans for a three-phase energy and industrialization hub at Salman Energy Park which will act as a locus for breakbulk activity and manufacturing.
Last year, Saudi Aramco launched its much-awaited stock market debut, achieving a record share price despite strict limits on the initial public offering.
The firms signed a US$1.85 billion deal for the Hawiyah Unayzah Gas Reservoir Storage, or HUGRS, project, located 260 kilometers east of the capital Riyadh.
“Samsung Engineering is honored to receive this contract and believes that our previous regional experience, engineering excellence and partnership with the client lead to this order,” said Sungan Choi, CEO of Samsung Engineering.
1,500 MMSCFD
Scope for work for the ambitious HUGRS project involves construction of a gas injection facility equipped with booster compressors, capable of processing 1,500 million standard cubic feet of gas per day.
“Continuing to provide safe and quality projects, Samsung Engineering will ensure that this project will leave a mark in Saudi Arabia and will lead to building on our position in the Middle East overall.”
Headquartered in Seoul, South Korea, Samsung Engineering provides a range of engineering services from feasibility studies and design through procurement, construction, and commissioning.
Downstream Investment
The development of the HUGRS facility is part of a push by Saudi Arabia to develop it domestic downstream infrastructure, which is supporting a raft of breakbulk activity across the country.
One of the largest oil firms in the world, Saudi Aramco has doubled down on domestic investment under the Kingdom’s 2030 Vision program, with plans for a three-phase energy and industrialization hub at Salman Energy Park which will act as a locus for breakbulk activity and manufacturing.
Last year, Saudi Aramco launched its much-awaited stock market debut, achieving a record share price despite strict limits on the initial public offering.
