Samsung Engineering was awarded a $314 million oil refinery order from Bahrain's National oil company, Bapco (The Bahrain Petroleum Company), Nogaholding and Finland's Neste Oil Oyj joint venture under the name Bahrain Base Oil Company, the South Korean company said on Wednesday. The lube base oil plant will be built on Persia's coast in the Sitrah, Bahrain region where an essential oil shipping port is located. Upon completion of the oil refinery, it will produce 400 thousand tons of lube base oil annually. Samsung Engineering's EPC (Engineering, procure-ment, construction) lump sum key project order is currently scheduled to be completed by April of 2011. At the official contract signing ceremony, Samsung Engineering CEO Yeon-Joo Jung, said: “This new project order marks the first Korean plant company ever to penetrate into the Bahrain market. Samsung Engineering will successfully complete this project with a combination of project know-how accumulated in Saudi Arabia and our capabilities. We are confident of our success in this new market and client.” __
