The Shaw Group Inc. announced Monday that its Energy & Chemicals Group has been selected by Hyundai Oilbank Co. Ltd. to lead a consortium that will provide professional services and procurement of critical equipment for a major grassroots expansion of Hyundai Oilbank's refinery complex in Daesan, South Korea.
Shaw, along with consortium partner Hyundai Engineering Co. Ltd., will provide front-end engineering design for the integration of 15 refinery process units, including a 52,000 barrels per day residue fluidized catalytic cracking unit and a 66,000 barrels per day atmospheric residue desulfurization unit. The consortium will also provide front-end engineering design for associated utilities and infrastructure, procurement of critical equipment, as well as project management services.
The expansion project will allow for conversion of high-sulfur fuel oil to higher value refining products while also upgrading the refinery to meet future fuel specifications in Korea. The value of Shaw's contract, which will be included in the company's third quarter fiscal 2008 backlog of unfilled orders, was not disclosed.
This award further establishes Shaw as a leading technology integrator, as well as a leader in providing engineering, procurement and project management services in the expanding Korean refining market, said Lou Pucher, president of Shaw's Energy & Chemicals Group.
Shaw recently completed the integration of 14 process units and related services for the addition of a 60,000 barrels per day fluid catalytic cracking unit at a refinery in Ulsan, South Korea, for SK Corporation.
The Shaw Group Inc. is a leading global provider of technology, engineering, procurement, construction, maintenance, fabrication, manufacturing, consulting, remediation and facilities management services for government and private sector clients in the energy, chemicals, environmental, infrastructure and emergency response markets. A Fortune 500 company with fiscal 2008 revenues expected to exceed $7 billion, Shaw is headquartered in Baton Rouge, La., and employs approximately 27,000 people at its offices and operations in North America, South America, Europe, the Middle East and the Asia-Pacific region.