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Aramco Signs $13b Gas Project

Aramco Signs $13b Gas ProjectAramco Signs $13b Gas Project

Saudi Aramco signed four engineering contracts to build its Fadhili gas processing project, the company announced at a press conference on Wednesday.  The contracts, with firms including Saudi Electricity Company and France’s Engie, are expected to permit completion of the $13.3 billion project by the end of 2019, the company said, Reuters reported. Other contracts for the project were signed late last year. The plan for Fadhili includes a 1,500-megawatt power plant. Sources also told Reuters that Saudi Aramco’s planned Jizan Refinery will come online in 2018, while the firm is still studying plans for a clean fuels project, chief executive Amin Nasser said at a company event on Wednesday. The Jizan refinery, to be located in the southwest of the kingdom, is slated to process 400,000 barrels per day when fully operational.

 

Financialtribune.com