Oman Oil Company Exploration and Production (OOCEP), the upstream subsidiary of the government owned energy investment firm Oman Oil Company, has awarded a contract valued at $480 million to Hyundai Engineering Co Ltd (HEC) for the implementation of a gas processing plant in Musandam Governorate.
As part of the Engineering, Procurement and Construction (EPC) contract, HEC will build a gas separation and oil treatment plant that will process hydrocarbons from the Oman’s West Bukha field offshore Musandam peninsula. A 36 month timeframe has been specified for the completion of the project.
Salim al Sibani, CEO of OOCEP noted: “This is a very significant project for Oman and the Musandam Governorate. The Musandam Gas Plant is part of a major integrated development comprising West Bukha field development; interlink offshore pipelines crude storage, export facilities and gas fired power plant.
“The project will act as the foundation for additional oil and gas developments. We look forward to a collaborative effort with Hyundai Engineering to compete the project safely and successfully”.
Welcoming the contract Dong Wook Kim, Chief Executive Officer on Hyundai Engineering Co ltd, commented: “This is an important deal for Hyundai Engineering Co., Ltd, as it returns to Musandam with supporting services and builds on the reputation of Hyundai Engineering’s oil and gas services expertise in Oman.
Set up as a legal entity in 2009, OOCEP has numerous assets and diversified interests in oil and gas exploration and production both within and outside Oman.