 Ecuadorian President Rafael Correa Delgado, left, shakes hands with SK Construction and Engineering vice chairman Chey Chang-won, after arriving at the SK Energy oil refinery complex in Ulsan, Thursday. / Courtesy of SK Group |
Ecuadorian president Rafael Correa Delgado visited SK Energy’s oil refinery complex in Ulsan, Thursday afternoon, as Korea’s largest refiner seeks to get ahead of the competition for the construction of the $12.5 billion petrochemical infrastructure project in the South American country.
Correa, currently on a three-day visit to Korea, met with SK Construction & Engineering vice chairman Chey Chang-won at the SK complex. SK Energy’s Ulsan complex, which covers 2,050 acres, is the largest in Korea and one of the biggest refineries of its kind in the world.
The Ecuadorian president was given a tour of SK Energy’s state-of-the-art oil refining technologies and petrochemical facilities. Correa was also given a detailed briefing on the company’s leadership and competence in oil refining, plant construction and resource development.
SK Energy is competing against Japanese companies for the construction of a $12.5 billion oil refinery and petrochemical complex in the coastal province of Manabi in Ecuador. The Refineria del Pacifico, which is projected to have an oil refining capacity of 300,000 barrels per day, will be jointly operated by the state-run companies of Ecuador and Venezuela.
Earlier this year, SK Engineering & Construction had secured a $260 million deal to design the basic engineering the Manabi oil refinery.
Correa’s visit is expected to help SK Energy do business in Ecuador, especially with regards to the oil refinery construction project and resource development. SK Energy president and CEO Ku Ja-young also visited Ecuador last June.
In a statement, SK Construction & Engineering vice chairman Chey Chang-won expressed his appreciation for Correa and the Ecuadorian delegation’s visit to the SK complex in Ulsan. ``SK will be the best partner for the development of Ecuador,” Chey added.
Correa met with Korean President Lee Myung-bak, Wednesday, and discussed energy cooperation measures, including the participation of Korean companies in the oil refinery infrastructure project in Ecuador. Correa expressed hope that more Korean companies would be interested in his country’s national development projects in energy, resource development and infrastructure.
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