Samsung Engineering signs an agreement with Aramco

Samsung Engineering signs an agreement with Aramco

Seoul, Korea – Samsung Engineering, one of the world’s leading engineering, procurement, construction and project management (EPC&PM) companies announced today, that it has signed an agreement with Aramco for the National EPC Champions initiative. The official signing occurred on July 5, during the Saudi Aramco Namaat Industrial Investment Program event, held in the Al-Ghawar Hall at Aramco’s main office in Dhahran, Saudi Arabia.

The formal agreement signing between Samsung Engineering, Al Rushaid Petroleum Investment Company (ARPIC), and Aramco took place earlier. Samsung Engineering's President and CEO Sungan Choi, Aramco’s Vice President of Project Management, Abdulkarim Ghamdi, and ARPIC’s CEO and Chairman, Rasheed Al Rushaid, attended the Namaat event following the signing of the agreement.

The National EPC Champions initiative is tailored for investments in the EPC sector to foster local industries through the Namaat program. The Namaat program aims to build national champions, create a robust industrial ecosystem and introduce unique job opportunities. Samsung Engineering, as an International EPC contractor, with ARPIC, as a local EPC contractor, will establish a joint venture with the objective of increasing Saudization levels, maximizing iktva targets, and deploying leading construction technologies.

ARPIC has several collaborations in the oil and gas industry, including joint ventures and affiliates in