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Saudi Aramco signs contracts to build $13bn Fadhili gas project

State oil giant 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 Co and France's Engie, are expected to permit completion of the 50 billion riyal ($13.3 billion) project by the end of 2019, the company said. Other contracts for the project were signed late last year.

The plan for Fadhili includes a 1,500-megawatt power plant. The project is to boost Saudi gas production capacity to more than 17 billion standard cubic feet by 2020.S

Saudi Aramco has also begun construction on what it says is the largest industrial gas complex in the world set to open by 2018 in the Empty Quarter desert.

The project’s SR7.8 billion ($2.1 billion) contract was given to global chemical industry firm Air Products & Chemicals and international company ACWA Holding to build, own, and operate, according to Arab News.

The project is meant to supply Aramco’s currently-under-construction refinery in Jazan with 75,000 tons of nitrogen and oxygen every day for 20 years. Operation is planned to begin in 2018.

Both projects are expected to play a big role in the country’s National Transformation Program by providing over 450,000 jobs by 2020 - 70,000 jobs of which will be at the refinery.

The industrial city project in Jazan is also expected to attract small and medium-sized companies as well as develop sustainable and economic plans in the southern region.

The refinery will house the world’s largest power station which transforms liquids into gas.

It will supply 400,000 barrels of Arab medium and heavy crude oil per day as well as 80,000 barrels of gasoline and 250,000 barrels of diesel every day in addition to 1 million tons of benzene and paraxylene yearly.

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Posted on :12/9/2016