Samsung Engineering Wins New Orders Worth 4 Tril. Won in January Alone

Samsung Engineering won new overseas construction orders worth 4 trillion won in January alone.

The company announced on Jan. 28 that it signed a contract with Saudi Arabia's state oil company Aramco on Jan. 23 for the Hawiyah Unayzah Gas Reservoir Storage Project worth about 2.21 trillion won (about US$1.85 billion). The company received a letter of intent on the project in November 2019 and signed an initial business contract.

Samsung Engineering will build a gas injection facility with a capacity of 1.5 billion cubic feet per day and a gas reproduction facility that can produce 2 billion cubic feet per day at Hawiyah Gas Field, located 260 km east of Riyadh, the capital of Saudi Arabia. It will carry out the entire process of engineering, procurement and construction and complete the facilities in 2023.

Samsung Engineering also landed the Hassi Messaoud oil refinery project in Algeria worth 1.9 trillion won on Jan. 8. The project is a massive oil refining project worth 4.3 trillion won ordered by Algeria's largest state-run oil company Sonatrach and Samsung Engineering will carry out the project with Tecnicas Reunidas of Spain. As a result, Samsung Engineering, won 4 trillion won worth of orders this month alone, and already secured more than two-thirds of its sales in 2018.