UK's Petrofac wins $1.4bn Saudi contracts

UK-based Petrofac has announced that it has been awarded two engineering, procurement and construction contracts for Saudi Aramco’s Jizan refinery and terminal project. 

When complete, the refinery will produce around 400,000 barrels of oil per day and have associated terminal facilities on the Red Sea near Jizan in the south west of Saudi Arabia.

The combined value of the contracts is around $1.4bn, Petrofac said in a statement. 

Petrofac’s Saudi Arabia office will lead the project management delivery of the work scope which covers tank farms in the north and south areas of the development. 

Both contracts are scheduled to be completed within three years, the statement added.

Marwan Chedid, chief executive of Petrofac’s Engineering, Construction, Operations & Maintenance (ECOM) division, said: “We are delighted to have secured these significant packages for Saudi Aramco on their Jizan Refinery and Terminal project. 

"This will serve to reinforce the relationships and experience we have developed through our recent involvement on the Karan project as well as our ongoing Petro Rabigh projects for Saudi Aramco and Sumitomo Chemical Co Ltd. 

"As this project progresses, we look forward to working closely with Saudi Aramco and our contractors to further deepen our engineering and project management capability in the kingdom.”