It has been over ten years since SK E&C started its first project in the UAE. Starting with the Ruwais Refinery Expansion Package1 (2009) and Bab Gas Compression Stations (2009), it entered the UAE oil and gas market with our plant competitiveness. Furthermore, SK E&C is continuously participating in new projects as the top business partner of customers at home and abroad based on an exceptional track record of quality, safety, low cost and high efficiency plant construction in the oil and gas industry. SK E&C is pursuing business model innovation by venturing into fuel cell, eco-friendly and high value-added industrial plants through outstanding construction and project development capabilities.
While SK E&C has successfully carried out projects in oil and gas, it also started awarding several projects in the infrastructure sector as well. SK E&C awarded the M Project (oil storage cavern project) in 2017. It is an ongoing project, and contains three oil storages in Fujairah, which can hold 42 million barrels. It will be the largest single oil storage cavern when construction is complete. In addition to the oil storage cavern project in the UAE, SK E&C has also been awarded a contract for Package A of Etihad Rail, valued at $418 million. The total length of scope of work is the approximately 139 kilometre route.
SK E&C has the world’s leading technology and leadership role in the construction of an oil and gas storage cavern and tunnel. The cavern project in particular saw the successful completion of several LPG caverns and oil storage caverns.
Starting from 1985, a total of seven crude oil/LPG storage caverns with 100.96 Mbbl capacity were built all over the world by SK E&C. In terms of underground space development, SK E&C proudly presents the underground technology, based on the world’s prestigious Blasting Technology. During the 1990s, SK E&C was able to take a leadership role within the industry through Blasting Technology by acquiring both domestic and international patents, occurring through the foundation of the Supex-cut innovative method of improving the advance efficiency of blasting by minimising the resistance of rock with cross drilling of parallel and angle cuts.
Subsequently, the brand developed the Long Cut Blasting Method (LCBM), which improved the excavation length of Supex-cut to enable long-hole blasting in mega tunnels and further developed its own unique technology with the Supex Blasting Method (SBM), which maximises excavation efficiency and minimises blasting noise and vibration. SK E&C is actively adopting digital transformation technology to the projects including 3D laser scan, computerised drilling, a mechanised loading system and automated measurement, enabling precise blasting to increase productivity by reducing cost and shortening construction periods.
SK E&C has not just great performance in EPC (Engineering Procurement Construction), but also conducted PPP (Public Private Partnership) projects in global markets by linking with the company’s projects, where it holds a technological lead such as tunneling and underground space development. SK E&C challenged itself on overseas business with the capability of a traditional EPC contractor and business development with financing where it became the first Korean construction company to enter the overseas infrastructure PPP market. This led to the establishment of cooperative ties with EBRD, EIB, Korean Export Credit Agency(K-ECA), Export-Import Bank of Korea (K-EXIM), and Korea Trade Insurance Corporation (K-SURE).
Within many experiences of PPP projects in different countries, SK E&C is now on the road to advancement in the infrastructure PPP market with global major players as partners, K-EXIM, and K-SURE. As a frontier in the overseas PPP business, SK E&C will continue to expand its business model with its strategic partners.
Moving rapidly forward, SK E&C is currently increasing the share of eco-friendly and urbanisation projects while simultaneously working to boost productivity by innovating business models and proactively adopting smart construction. SK E&C will concentrate its efforts to cement the foundation of growth while fulfilling social responsibility.