Latest news with #TecnicasReunidas
Korea Herald
27-05-2025
- Business
- Korea Herald
Doosan Enerbility secures W340b deal for Saudi power plant projects
Korean energy solutions provider Doosan Enerbility announced Tuesday that it has secured contracts totaling 340 billion won ($248.7 million) to supply key power generation equipment for two combined cycle gas turbine power plant projects in Saudi Arabia. Under two recent agreements, the company will supply four 650-megawatt steam turbines and four 540-megawatt power generators for the Ghazlan 2 and Hajar combined cycle power plant expansions — two turbines and two power generators for each plant, the company said. Both projects are located in Saudi Arabia's eastern region, approximately 400 kilometers from the capital, Riyadh, and are scheduled for completion by 2028. According to Doosan Enerbility, the agreements were signed with a joint engineering, procurement and construction consortium comprising Spain's Tecnicas Reunidas and Egypt's largest construction firm, Orascom Construction. 'Backed by the trust and technological expertise we have built in the Middle East over more than 40 years, we continue to secure new projects in the region,' said Sohn Seung-woo, CEO of Doosan Enerbility's Power Service Business Group. 'We are committed to delivering high-quality products on time and will do our utmost to strengthen customer confidence and secure follow-up projects in the future.' With this latest deal, the company has racked up a total of nine steam turbine orders in Saudi Arabia since 2024. Leveraging its expertise in this technology, Doosan Enerbility has held the top global market share for ultra-large steam turbines — units with capacities over 300 megawatts — over the past five years, accounting for 33.1 percent of the 22.1 gigawatts installed worldwide.
Reuters
24-03-2025
- Business
- Reuters
Tecnicas Reunidas, Orascom secure $2.6 billion contract in Saudi Arabia
March 24 (Reuters) - Spain's Tecnicas Reunidas ( opens new tab and Egypt's Orascom ( opens new tab have secured a $2.6 billion contract to expand a 3 gigawatt combined cycle gas-fired power plant in Saudi Arabia, the Egyptian engineering company said on Monday. The agreement, a 50-50 joint venture, will include readying carbon capture infrastructure and will include a 380-kilovolt (kV) electrical substation, Orascom said. The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here. The project is part of a number of contracts signed by Tecnicas Reunidas in the past months in the Middle East and elsewhere that will allow it to triple its net profit in 2026 from 2023. The Spanish company, which specialises in building energy infrastructure, has seen its shares jump almost 50% so far this year as it recovers from an energy investment contraction following the pandemic and the war in Ukraine.
Zawya
24-03-2025
- Business
- Zawya
Tecnicas Reunidas, Orascom secure $2.6bln contract in Saudi Arabia
Spain's Tecnicas Reunidas and Egypt's Orascom have secured a $2.6 billion contract to expand a 3 gigawatt combined cycle gas-fired power plant in Saudi Arabia, the Egyptian engineering company said on Monday. The agreement, a 50-50 joint venture, will include readying carbon capture infrastructure and will include a 380-kilovolt (kV) electrical substation, Orascom said. The project is part of a number of contracts signed by Tecnicas Reunidas in the past months in the Middle East and elsewhere that will allow it to triple its net profit in 2026 from 2023. The Spanish company, which specialises in building energy infrastructure, has seen its shares jump almost 50% so far this year as it recovers from an energy investment contraction following the pandemic and the war in Ukraine. (Reporting by Marta Serafinko in Gdansk, editing by Inti Landauro and Louise Heavens)
Yahoo
17-02-2025
- Business
- Yahoo
Oil and gas contract value remains robust despite volume decline in Q4 2024
Global oil and gas contract activity experienced a 15% quarter-on-quarter decrease in the total number of contracts, from 1,596 in the third quarter (Q3) of 2024 to 1,353 in Q4 2024. Despite this dip in volume, the overall contract value saw strong growth, with $39.2bn in Q4 2024 compared to $38.8bn in Q3 2024. Some notable contracts awarded during Q4 2024 include a significant $4bn engineering, procurement, and construction (EPC) contract awarded to Tecnicas Reunidas (51%) and Sinopec Engineering (49%) replacing its previous joint venture partner Samsung Engineering for a five million tonnes per annum new deep conversion oil refinery in Algeria's Hassi Messaoud region. Another major contract included Bram Offshore and Starnav Servicos Maritimos' $2.74bn construction and charter contract from Petrobras for 12 platform supply vessels. Additionally, JGC Indonesia secured a $2.4bn lump-sum turnkey EPC contract from BP Berau for onshore compression facilities at the Tangguh liquified natural gas plant in Papua Barat Province, Indonesia, and a $1.9bn contract awarded by TotalEnergies EP Suriname to Saipem Offshore for the EPC, supply, precommissioning, and commissioning assistance for the Subsea Umbilicals, Risers, and Flowlines package for the GranMorgu project in Suriname. The upstream sector reported 941 contracts during Q3-Q4 2024, followed by the downstream/petrochemical and midstream sectors with 258 and 176 contracts during the quarter. Asia recorded most of the contracts, with 511 contracts in Q4 2024, followed by Europe and North America with 352 and 310 contracts, respectively, during the quarter. Operation and maintenance (O&M) represented 50% of the total contracts in Q4 2024, followed by procurement scope with 30%, and contracts with multiple scopes such as construction, design and engineering, installation, O&M, and procurement, which accounted for 10%. Further details can be found in leading data and analytics company GlobalData's new report, Oil and Gas Industry Contracts Review by Sector, Region, Terrain and Top Contractors and Issuers, Q4 2024. "Oil and gas contract value remains robust despite volume decline in Q4 2024" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
