The signing ceremony of 13 Engineering, Procurement and Contracting (EPC) contracts awarded for Saudi Aramco Total Refining and Petrochemical Company (SATORP)'s mega-project - the Jubail Export Refinery, took place today. The agreements were signed by SATORP's President & CEO, Salem H. Shaheen, and the Presidents of the contractor companies. The ceremony was attended by the Chairman of SATORP's Board of Directors, Engr. Samir A. Al-Tubayyeb, together with a number of Saudi Aramco and Total officials, as well as representatives from the contractor companies. With a total investment amounting to US $9.6 billion, the Jubail Refinery joint venture stands out as one of the most strategic projects for both Saudi Aramco and the Kingdom of Saudi Arabia. On its completion, the new refinery will be one of the most advanced refineries worldwide, transforming Arabian Heavy Crude into high specification products that are intended to meet the ever increasing demand for environment-friendly fuel types. Efficiently benefiting from its strategic location to meet both local and international demand. In his opening speech, Engr. Salem H. Shaheen, SATORP's President & CEO, emphasized that the Company has awarded 15 pre-planned EPC contracts to a number of highly experienced local and international companies for the execution of its joint venture project. Shaheen said that SATORP had encouraged local companies to participate in the execution of this huge project and to compete for the EPC contracts, in line with the Company's policies and objectives. Consequently, following the bidding results that were announced in synchronization with the 5th Board of Directors meeting held recently in Paris, a number of contracts were awarded to Saudi entities. -- More
