Daelim, Daewoo ENC Consortium Wins S-Oil Onsan Industrial Complex Project Design
DATE 2015.05.20
VIEW 4010
Daelim, Daewoo ENC Consortium Wins S-Oil Onsan Industrial Complex Project Design
The Daelim and Daewoo ENC consortium announced on May 20, 2015 that it won the design project of S-Oil Ulsan Onsan Industrial Complex project (construction of petroleum residue acceleration and olefin downstream facilities).
This construction is the first large-scale investment project promoted by S-Oil since Aramco, Saudi Arabia’s national petroleum company, became the largest stockholder of S-Oil through additional acquisition of S-Oil stake last year. The construction has the largest scale among single plant construction projects within Korea. Although the total cost has yet to be decided (cost on the part of the client), it is estimated to be about KRW 4.5 trillion.
The consortium plans to unveil the design next month. After that, when the final investment approval is made in the S-Oil board, the petroleum residue acceleration and olefin downstream facilities – which are oil refinery and petrochemical compound facilities – will be built in Onsan Industrial Complex located in Ulju-gun, Ulsan City. Construction completion is targeted for the first half of 2018.
Petroleum residue is a type of residue oil generated in the oil refining process. In the petroleum residue acceleration facility, the cheap bunker-C oil – generated after high value-added oil distillates including naphtha, kerosene, and diesel are produced through the oil refining process – is converted into high value-added products such as propylene and gasoline. In the olefin downstream facility, polypropylene and oxidized propylene, which are raw materials of construction and everyday life materials, are produced using the propylene made in the petroleum residue acceleration facility.
