Business & Finance Club Magazine - Oil & Gas Sector - Abu Dhabi  - TAKREER (Abu Dhabi Oil Refining Company) announced today that a Contract worth US$ 463 Million have been awarded to Hyundai Engineering Co. Ltd. for "Engineering, Procurement, Construction and Commissioning" (EPC) works of the Group III Base Oil Production Facilities Project at Ruwais Refinery.

The planned facility will be capable of producing 500,000 tons per year of Group III Base Oils as well as 100,000 tons per year of Group II Base Oils. The PROJECT comprises a new Pre-Distillation, Hydroisomerization and Product Distillation Units. The PROJECT also includes a revamp of the existing Hydrocracker Unit, new storage tanks and integration with existing refinery units and utilities.

Takreer Ruwais Refinery existing Hydrocracker complex will provide the feed stock for the Project. The latest Hydro processing technology will be applied together with its integration with Takreer existing Hydrocracker facilities for producing high quality base oils The base oil production facilities have been designed to comply with U.A.E. and International Environmental Standards.

Group III Base Oil is a high quality and environmental friendly base oils used for blending top-tier lubricants for car engines. The Group III base oils have a long life and significantly increase the drain intervals of car lubricants.

The objective of the PROJECT is to provide TAKREER with greater diversity in refined products by adding new high value Group III lubricating oils.

TAKREER, a subsidiary of Abu Dhabi National Oil Company (ADNOC), stated that the PROJECT is due to meet commercial production by end of 2013.