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Saudi's Aramco award 8 major contracts
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SPECIAL TO WORLD TRIBUNE.COM
Monday, March 21, 2005
ABU DHABI —Saudi Aramco awarded eight projects for the development
of crude and natural gas reserves in the kingdom.
The state-owned company signed the contracts with eight foreign and
local firms. The contracts signed
with Italy's Snamprogetti and a consortium led by Bechtel call for the
development of production facilities near Jubail Industrial City in the
Eastern Province as part of an effort to increase oil output by 500,000
barrels per day by 2008.
The first project was for the development of three onshore
fields as part of the Khursaniyah Oil and Gas Program, Middle East Newsline reported.
Japan's JGC and Snamprogetti signed contracts for the second Saudi
project, termed the Hawiyah Natural Gas Liquids Recovery Program. Hawiyah
was meant to produce an additional 310,000 barrels of ethane and natural gas
liquids per day.
"The oil facilities will reinforce the company's international role in
responding reliably to future oil market demand," Saudi Aramco president
Abdullah Jum'ah said. "The gas program demonstrates Saudi Aramco's
commitment to continue playing its part in the kingdom's efforts to further
boost and diversify the economy."
Copyright © 2005 East West
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