UK’s Wood Group, the engineering, venture and technical companies firm primarily working in vitality and industrial markets, has acquired an $eight million contract for the pre-front-end engineering and design of a brand new refinery in Ruwais, a western area of the Emirate of Abu Dhabi. Wood representatives described the venture because the world’s largest built-in and petrochemicals advanced as Abu Dhabi National Oil Company (ADNOC) plans to supply 600,000 barrels of crude oil per day.
This information comes as investing giants BlackRock and KKR on Sunday signed a $four billion settlement with the Abu Dhabi National Oil Company (ADNOC) to turn into the primary institutional buyers becoming a member of forces with a nationwide oil producer within the Middle East.
The contract requires Wood to work with ADNOC to map out the refinery’s entrance finish engineering (FEED), development and procurement phases, and supply value estimation and licensing choice companies. Wood’s pre-FEED bundle, based mostly on the corporate’s confirmed design, must be full by the tip of 2019.
Jasem Ali Al Sayegh, CEO of ADNOC Refining, stated, “Today marks a big step in the direction of fulfilling ADNOC’s technique of growing the most important built-in refinery and petrochemicals advanced on the planet. We are delighted to associate with Wood and to have their international experience obtainable to us. This a significant milestone sooner or later progress plans of ADNOC Refining.” ADNOC Refining operates the world’s fourth-largest single website refinery, positioned 149 miles west of Abu Dhabi metropolis and related to a 1,180 miles pipeline community, supplying refined oil to ports throughout the emirate to export globally.
Wood’s CEO of Specialist Technical Solutions enterprise, Bob MacDonald, stated, “We are happy to proceed our relationship with ADNOC Refining. This pre-Feed award permits us to associate with ADNOC in growing a world-scale state-of-the-art facility – a significant flagship improvement for the UAE. This contract additionally permits us to broaden our footprint within the Middle East and helps our dedication to growing and enhancing native engineering capabilities in Abu Dhabi.”