Adnoc, Cepsa award first Ruwais derivatives park contract

 

Adnoc, Cepsa award first Ruwais derivatives park contract
Dr Sultan bin Ahmad Sultan Al Jaber, Minister of State and CEO of Adnoc

abu dhabi - Park will act as a catalyst for the next stage of Adnoc's petrochemical transformation

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Published: Tue 18 Dec 2018, 6:23 PM

Last updated: Tue 18 Dec 2018, 8:26 PM

The Abu Dhabi National Oil Company (Adnoc) and its project partner Cepsa have announced the awarding of a key contract as both companies move forward with plans to develop a world-scale Linear Alkyl Benzene (Lab) plant in the Ruwais Derivatives Park. The Lab project is the first of the derivative units to be advanced under Adnoc's Dh165 billion ($45 billion) Ruwais downstream investment programme.

The front end engineering design (Feed) contract has been awarded to Tecnicas Reunidas (TR), a Spain-based engineering company which has been active in the UAE since 2006. The Lab project will be jointly operated by Adnoc and Cepsa, a Spain-based integrated energy company. Cepsa is wholly-owned by Abu Dhabi's Mubadala Investment Company.

Abdulla Ateya Al Messabi, refining and petrochemicals business unit manager at Adnoc, said: "The Lab plant will be a key component of Adnoc's plans to develop a new, large-scale, manufacturing ecosystem in Ruwais through the creation of the Ruwais Derivatives Park. The park will act as a prime catalyst for the next stage of Adnoc's petrochemical transformation by inviting partners to invest and produce new products and solutions from the growing range of feedstocks that are available in Ruwais. This will enable the creation of numerous new petrochemical activities and value chains."

He said the awarding of this contract is a signal that Adnoc is accelerating its 2030 growth strategy. "It is also an example of Adnoc's determination to support the diversification of Abu Dhabi's industrial base as we pivot downstream." - Wam



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