Abu Dhabi – Mubasher: The Abu Dhabi National Oil Company (ADNOC) on Thursday revealed that its wholly owned subsidiary, ADNOC Refining, has launched construction works in its Ruwais Industrial Complex in collaboration with Samsung Engineering, one of the world’s leading engineering, procurement, construction and project management (EPC&PM) companies.
The total cost of the UAE’s largest industrial complex amounts to AED 11 billion ($3 billion), according to ADNOC’s statement.
The project, which aims at enhancing the flexibility of crude oil refining, is expected to be completed by the end of 2022.
It will enable ADNOC's Ruwais Refinery-West complex to process up to 420,000 barrels per day (bpd) of Upper Zakum crude, or similar crude types from the market, allowing the oil major to extract greater value from its crude resources by liberating Murban crude, which commands a higher price on global oil markets.
In March, ADNOC signed two contracts with the South Korean company at a total cost of $3.5 billion.
