Abu Dhabi National Oil Company (ADNOC) said on Monday it had awarded two contracts to South Korea’s Samsung Engineering worth more than USD3.5bn. The contracts were signed by ADNOC Refining, a wholly owned subsidiary of ADNOC. The first engineering, procurement and construction (EPC) contract was awarded for a USD3.1bn and is scheduled to be completed by 2022. It will enable the Ruwais Refinery-West plant to process up to 420,000 barrels per day of Upper Zakum crude, or similar oil grades, freeing up more exports of ADNOC’s Murban crude, which is sold at a premium. The second contract is for a USD473mn project to recover power and water, also at the Ruwais oil refinery and is scheduled to be completed by 2023. It will generate an additional 230 megawatts of electricity for sale and 62,400 cubic metres of water daily by capturing waste heat and upgrading four gas turbines with closed-cycle power generation technology.