In particular, we have consecutively won contracts for large-scale oil and gas projects worth more than $1 billion, emerging as a major player in the global EPC industry. We are harnessing the capabilities we acquired over the years to make inroads into new markets in the US, Europe, CIS and South America, and reinforcing our position as a leader in the plant engineering and construction market.
As for the Chemical Plant business, SK E&C provides a variety of product portfolios for about 25 countries around the world ranging from crude distillation units such as refineries, petrochemical plants and LNG storage to highly sophisticated chemical plants. Based on the high-level engineering skills, project management competency and construction capabilities we accumulated through successful completion of various projects, we were able to build our Total Solution Provider (TSP) business model, reinforce our FEED Package implementation competency, and provide the best solutions.

The Chemical Plant Business Division utilized technology developed by the SK Group Research Center to develop original technology for FEED, and created a virtuous circle, e.g. Feed Stock and Off-take, Financing and O&M and acquired the ability to pursue new businesses based on group synergy.

We are operating a Delivery Platform system involving SK E&C USA, SK E&C India and the Seoul Head Office, and enhancing our global EPC competitiveness. To reinforce the competency of each base, we are continuously augmenting our engineering workforce both at home and abroad, and pushing ahead with globalization and localization simultaneously in the countries where they may be located.

We have also opened procurement offices in various locations of the world including China, Germany, India, Saudi Arabia, the UAE and the US to reinforce our supplier sourcing and procurement competitiveness, and continue to leverage our Southeast Asia EPC platform centered on Thai Woo Ree (in Thailand), our construction and Gene-con Sourcing Platform in the Middle East centered on Kuwait SBC, and Shaw Pipeshop in the UAE to reinforce our overall execution excellence.