Samsung Engr bags Petronas deal
US$770m PROJECT: South Korean firm to build new
gas terminal in Kerteh
SOUTH Korea-based Samsung Engineering Co has won a US$770 million (RM2.54 billion) contract from Petronas Carigali Sdn Bhd and Hess Exploration and Production Malaysia B.V. (HEPM) for the design and construction of the new gas terminal in Kerteh, Terengganu.
Petronas Carigali and HEPM hold 75 per cent and 25 per cent, respectively, of the project's stake.
In a statement issued yesterday, Samsung Engineering said it plans to complete the facility by 2016.
"The facility will be capable of producing 700 million cubic feet of gas per day by eliminating impurities from natural gas extracted from sea fields," it said.
The gas will be used for the production of a gas processing plant, it added.
"We believe that we have shown strong track record in the gas plant sector over the years and this resulted in earning new trust from our client," a Samsung Engineering official said in the statement.
"Our goal is to continue this partnership and strengthen our position in gas plant market by successfully completing this project."