News listings

energy-pedia general news

Malaysia flagMalaysia

Central & SE Asia / Australasia >>> Malaysia

Malaysia: Samsung Engineering receives USD 1.07 billion contract for the Sarawak Methanol Project in Malaysia

01 Dec 2020

Photo - see caption

Samsung Engineering, one of the world’s leading engineering, procurement, construction and project management (EPC&PM) companies, has received an LOI (Letter Of Intent) for a $ 1.07 billion contract from Sarawak Petchem, building a methanol plant in Sarawak, Malaysia. 

Samsung Engineering will build a 5,000 ton-day methanol production facility in Bintulu, Sarawak, eastern Malaysia. Samsung Engineering won the contract for the FEED (Front End Engineering Design) from Sarawak Petchem in April 2019 and the first Early Work contract in November 2019.

Samsung Engineering executed the Sarawak Petchem Methanol Plant Project from a feasibility study, FEED contract, Early Work phase, to a Licensor, Engineering, Procurement, Construction and Commissioning (LEPCC) contract with this LOI, effective from late January 2021. The plant will use Air Liquide’s technology and is expected completion in late 2023.

Samsung Engineering’s excellent FEED execution lead to the award for this EPC contract.

Samsung contract strategy, based on technology and digital transformation (DT), investing into FEED project implementation for the past several years, comes into fruition with the Sarawak Petchem Methanol Plant Project.

Moreover, Samsung Engineering has the opportunity to develop the market in Sarawak, which has large gas reserves in Malaysia, and therefore can create a promising position for future projects in the region.

Photo - see caption

Samsung Engineering’s President & CEO Sungan Choi stated:

'We were able to receive this landmark project from Sarawak Petchem, by showing our exceptional engineering capabilities and commitment made during the FEED stage. Samsung Engineering has an excellent track record for petrochemical plants and in Malaysia, which will insure optimal project execution, while earning the trust of the client for many future joint projects to come.'

In addition to the Sarawak project in Malaysia, the $ 3.6 billion Mexico Dos Bocas refinery project, which also started with Samsung Engineering’s FEED strategy, was also recently awarded as a full EPC last month.

Samsung Engineering has set a target to spurring orders for new businesses based on FEED along with DT and technology advancements. Samsung plans to improve its constitution with customized marketing strategies for existing and new clients globally.

Original article link

Source: Samsung Engineering

Bookmark and Share

A global information service for upstream oil and gas opportunities - divestitures, farmins and farmouts and licensing rounds.

Subscriber Only Deals

Current Deals

Current Upstream Deals: 379

Completed Deals

Completed Upstream Deals: 6003

Company Profiles

Current Company Profiles: 2752

Corporate Activity

Current Corporate Activity articles: 3591

Companies Looking

Current number of articles: 445

Company Sales

Current Company Sales articles:1452


Current Geostudies articles: 774

How to subscribe

energy-pedia Jobs

RSS Feed Widget
See all jobs...

energy-pedia Databank

The energy-pedia databank contains links to information on the world financial and energy markets, including share prices, oil and gas prices and the global stock exchanges. Read more...

energy-pedia Glossary

A list of commonly used terms in the oil and gas industry. Read more...


Subscribe to the FREE
energy-pedia Daily Newsletter

SLR Consulting logo
Union Jack Oil 149
KL Publishing
Government of South Australia
Rose & Assocs 149
About energy-pedia

energy-pedia news is a FREE news service written and edited by E and P professionals for E and P professionals.

We don't just report the news, we give you the technical background as well, with additional information derived from our unique energy-pedia opportunities service.
Contact us

energy365 Ltd

238 High Street
London Colney
St Albans

Tel: +44(0)1727 822675