oil and gas -...

OIL AND GASQ2 2016

MEED’s corporate subscription package provides your team with instant access to all the latest Middle East news data and analysis from the world’s leading source

Give your team the tools it needs to succeed

For more information on how a multi-user digital subscription would benefi t your business, contact Mark Sclaire on:[email protected] or call +971 0(4) 818 0330

MEED Business Review / 71

ph

oto

gR

aph

: R

Eu

tER

s

For the global oil sector, the April meeting of crude exporters in Doha ended with the worst possible outcome.

Not only did the meeting end without an agreement to coordinate production multilaterally, it concluded with little hope for future cooperation between Opec and non-Opec countries.

The sticking point in the plan to freeze oil production at January levels appeared to be the absence of Iran, the only producer with the capacity and the determination to significantly boost output in the near term. Saudi Deputy Crown Prince Mohammed bin Salman said in the run-up to the meeting that Riyadh would only support a freeze if all major producers, including Iran, agreed.

Opec will now meet in June without the presence of major non-Opec pro-

ducers such as Russia and Mexico. The organisation, which is already produc-ing well above its previous 30 million barrel-a-day (b/d) quota, will be unlikely to rein in Iran, which is determined to boost production and exports to pre-sanctions levels.

Iran’s deputy oil minister said on 16 April that the country is on course to boost exports to 2 million b/d next month, up from as low as 1 million b/d during the 2012-15 period of sanctions.

“This meeting and its outcome should have built confidence that the oil market rebalancing was close at hand, as well as building a circle of trust among pro-ducers for possible future cooperation and coordinated action,” said analysts from UK bank Barclays. “In this regard, the meeting was a complete failure.”Mark Watts

A meeting of oil exporters in Doha has ended dismally, with no agreement on production levels and little hope for future cooperation between Opec and non-Opec countries

Doha meet signals standstill

Oil & gas

Business Outlook

72 \ MEED Business Review

Business Outlook

Date set for start of construction on Jordan oil export pipeline

Aramco awards four offshore contracts

State Company for Oil Projects confi rms multibillion-dollar project has been revived

Wil Crisp

Commercial bids were submitted by contractors earlier this week for the stretch of pipeline that extends from Pumping Station 3 in Basra to Aqaba. A 420-kilometre stretch of pipeline extending from Pumping Station 1 to Pumping Station 3 is being discussed by Iraqi offi cials and is likely to be ten-dered in the coming months, according to industry sources.

Isis threatIn 2013, Iraq prequalifi ed 12 fi rms and joint ventures to build the pipeline, but the scheme was put on hold due to security concerns. The project has been revived with a new route that avoids territory controlled by the jihadist group Islamic State in Iraq and Syria (Isis).Wil Crisp

Iraq expects to start construction of its planned export pipeline to Jordan in March 2017, according to Ali Majeed Alwash, Middle East projects division manager at the

country’s State Company for Oil Pro-jects (Scop).

“Under the current schedule, con-struction will start in March next year,” Alwash tells MEED. “We are expecting the construction phase to last two to three years.”

The planned pipeline has an estimat-ed budget of $12bn and will extend from Pumping Station 1 in Basra to the port of Aqaba in Jordan.

Under current plans, the pipeline will have a capacity of 1 million barrels a day (b/d) of oil and will be built using the build-own-operate-transfer model.

The governor of Kirkuk tells Wil Crisp why he is pushing for regional autonomy. Search for ‘Forging unity’ on www.meed.com

� Dynamic Industries (US);� Larsen & Toubro (India)/Emas (Singapore);� McDermott (US);� Saipem (Italy).

McDermott was awarded deals on the Safaniyah and Berri fi elds, as well as a pro-ject on the Marjan and Zuluf fi elds. Saipem’s CRPO covers brownfi eld work on the Abu Safah fi eld. The CRPO deals are understood to be worth between $150m and $700m.

Aramco is also assessing bids to expand the production capacity of its Hasbah sour gas fi eld.Mark Watts

Saudi Aramco has awarded four contracts on offshore oil and gas assets estimated to be worth more than $1bn combined, according to sources familiar with the bidding process.

US-based McDermott picked up three deals, while Italy’s Saipem won one. The two fi rms signed contract release purchase orders (CRPOs) with Aramco on 19 April.

Four international groups were vying for the contracts after entering the Long-Term Agreement programme with the state oil company in 2015, giving them exclusive rights to bid for several offshore schemes. These fi rms are:

IRAQ

SAUDI ARABIASAUDI HYDROCAR-BONS PROJECTS $bn

Source: MEED Projects

Study 58.3

Execution 50.1

Prequalification 4.7

Design 0.6

Main contract bid 9.9


Study complete on Abu Dhabi oil fieldUAE/South Korean joint venture aims to start production at Haliba field by end of 2017

parties are in collaboration at the mo-ment with the aim of initiating commer-cial production by the fourth quarter of 2017,” the KNOC publication reported.

Al-Dhafra Petroleum made its first dis-covery at the Haliba field in May 2014, after its first appraisal well, Haliba-3, successfully pumped 10,000 barrels a day (b/d). This was extended later that year with 8,000 b/d from a drill test at the Haliba-4 well. The company estimated at the end of 2014 that the Haliba structure had 100 million barrels of contingent resources.

It is unclear whether Al-Dhafra Petroleum has begun the process of shortlisting engineering, procurement and construction contractors to carry out the field development. MEED was unable to reach a spokesperson at the company’s office in Abu Dhabi.

Two industry sources have told MEED they are doubtful such a devel-opment will move ahead at a time of uncertainty over low oil prices. During a period of low crude prices driven by global oversupply, Abu Dhabi is thought to be weighing up the viability of new capacity expansion schemes.Mark Watts

Al-Dhafra Petroleum Operations Company, a joint venture of UAE and South Korean firms, is moving ahead with the

development of the Haliba oil field in Abu Dhabi, after finishing the project’s design phase.

The front-end engineering and design (feed) study was recently completed by France’s Technip, according to sources familiar with the scheme.

Al-Dhafra Petroleum is 60-per-cent owned by the government’s Abu Dhabi National Oil Company (Adnoc), with the remaining 40 per cent held by South Korea’s Korea National Oil Corporation (KNOC) and GS Energy.

Korean participationThe 30-year deal was signed in March 2012, giving Al-Dhafra Petroleum the rights to explore three oil blocks; two onshore and one offshore. It was the first time South Korea – a major cus-tomer for UAE oil – took ownership of upstream assets in Abu Dhabi.

The feed study carried out by Technip is understood to cover an oil field development at Area 1 in southeast Abu Dhabi. The scheme will include bringing commercial production on stream at the Haliba field for the first time.

According to the official KNOC quarterly publication, former Adnoc director-general Abdullah al-Suwaidi led a delegation to Seoul in December 2015 to discuss the project with former KNOC CEO Suh Moon-Kyu.

“[The Abu Dhabi delegation] came to Korea to discuss current issues con-cerning the development of the Haliba structure at UAE Area 1, where the two

uAe

Haliba field esti-mated to have 100 million barrels of con-tingent resources

2.8m b/dUAE oil production in February 2016

90% Abu Dhabi public revenues from petroleum-related royalties and other taxes

13.2%Abu Dhabi 2015 budget deficit as percentage of GDPP

Ho

toG

RAPH

: S

HU

ttE

RS

toc

K


Business Outlook

Bids in to build third oil refinerySeveral international consortiums are vying for construction of facility in Duqm

■ CB&I/CTCI;■ Daelim (South Korea)/Hyundai E&C (South Korea)/Hyundai Engineering (South Korea).Mark Watts

Duqm Refinery has received bids for the main engi-neering, procurement and construction (EPC) pack-ages on the project to build

Oman’s third oil refinery.The plan is to construct a 230,000-

barrel-a-day refinery at the Duqm port. Bidders for the first package – covering oil processing facilities – are under-stood to include:■ CB&I (Netherlands)/CTCI (Taiwan);■ JGC (Japan)/GS Engineering & Con-struction (E&C; South Korea)/Saipem (Italy);■ Petrofac (UK)/Samsung Engineering (South Korea)/Chiyoda (Japan);■ Tecnicas Reunidas (Spain)/Daewoo E&C (South Korea).

The second deal covers facilities and buildings that support the process. The bidders are understood to include:

Further reaDing

Saudi Arabia and Kuwait to restart Khafji oil fieldKuwait and Saudi Arabia have agreed to restart output at the jointly held Khafji field, according to Kuwait’s acting oil minister, Anas al-Saleh.

OMV and Occidental to evaluate Abu Dhabi offshore fieldsAustria’s OMV and the US’ Occidental Petrole-um have signed a four-year deal to evaluate undeveloped oil and gas fields in the North West Offshore area.

Khazzan could boost Oman gas outputBP’s Khazzan tight gas field could increase Oman’s gas production by as much as 50 per cent if the UK oil major is successful in ap-praising the northern area of its concession.

Aramco launches $500m gas tenderState-owned oil major Saudi Aramco has invited companies to bid by the end of May for an estimated $500m contract to build gas treatment units at Uthmaniya.

Read more about oil and gas at www.meed.com/energy

oman

Aramco positive on Khurais expansionto add 300,000 barrels a day (b/d) of oil to the field’s current capacity of 1.2 million b/d.

Italy’s Saipem is carrying out the project’s largest engineering contract, involving the central processing facili-ties, worth an estimated $3bn.

Saudi-based industry sources told MEED in 2015 that Aramco was weigh-ing up whether to proceed with the project due to cost concerns.

“Until now all of our downstream and upstream projects are continuous,” Nasser told reporters. Mark Watts

Saudi Aramco CEO Amin Nasser says the state-owned oil company is press-ing ahead with the expansion of the Khurais oil field, confirming a report by MEED in 2015.

Nasser told reporters at a conference in eastern Saudi Arabia that the project is on track to be completed in 2018, according to news agency Bloomberg.

MEED reported in November 2015 that the $3bn expansion had been revived. The construction phase was later started after Aramco requested contractors to speed up execution. The oil firm is carrying out the project

sauDi araBia

0

100

200

300

400

500

600

*=Planned. Sources: MEED; company announcements

oman reFining capacity*Barrels a day

20152016

20172018

20192020

600

500

400

300

200

100

0

Mina al-Fahal

Duqm

Sohar


State oil firm to tender major gas projects

Abu Dhabi is preparing to tender front-end engineer-ing and design (feed) work for two major offshore developments, according to sources familiar with the projects. Abu Dhabi National Oil Company (Adnoc) has prequalified several groups to bid for the contracts on the Hail and Ghasha gas fields, as well as the Dalma oil and gas field.

Hail and GhashaThe plan for Hail and Ghasha is to install 1 billion cubic feet a day (cf/d) of additional gas capacity from sour gas reservoirs. Five firms are understood to be prequalified to bid for the deal:■ Amec Foster Wheeler (UK);■ Bechtel (US);■ Fluor (US);■ Technip (France);■ WorleyParsons (Australia).

A second project aims to build the first platforms and pipelines at the Dalma field, located in the west of Abu Dhabi’s offshore territory between Dalma Island and the maritime border with Qatar. Adnoc’s priority will be to install the gas line first. According to sourc-es, the planned capacity is 350 million cf/d. Five firms are thought to be prequalified to bid for the contract:■ Amec Foster Wheeler;■ Fluor;■ KBR (US);■ Technip-Genesis (France);■ WorleyParsons.Mark Watts

Emirate looks to move ahead on Hail, Ghasha and Dal-ma fields

ph

oto

gR

aph

: S

hu

ttE

RS

toc

k

uae

Emirate to install floating storage and gasification unit later this year

abu Dhabi plans to install a lique-fied natural gas

(LNG) import terminal to meet domestic de-mand for natural gas, according to Abu Dhabi National Oil Company (Adnoc) CEO Sultan al-Jaber, confirming reports from earlier this year.

Adnoc will install a floating storage and gasification unit with a capacity of 500 million cubic feet a day (cf/d) “later this year”, Al-Jaber said in an in-terview with the UAE’s official Emirates News Agency (Wam).

Various solutions“We are pursuing a variety of solutions [to meet gas demand] across our portfolio, from conventional and sour gas all the way to a floating storage and regasification unit [FSRU],” he said.

“Furthermore, we are continuously evaluating new and undeveloped fields, including uncon-ventional gas.”

The installation of a floating facility suggests Abu Dhabi will need additional

gas supplies before its planned onshore LNG import facility in Fu-jairah comes on stream.

The local Emirates LNG originally planned to start up the first phase of the Fujairah terminal in 2016.

However, the project has been delayed by a

change of scope and a retender of the engineering, procure-ment and construc-tion contract.

Al-Jaber said the Shah gas development, which is the UAE’s first major sour gas scheme, has reached its full production target of 1 billion cf/d. The field came on stream in 2015.Mark Watts

abu Dhabi looks to reinforce LNG supply

500 mcfDaily capacity of planned floating storage unit

215 tcfuaE proven reserves of natural gas

5.6 bcfabu Dhabi daily gas production in 2014


Business Outlook

ph

oto

gR

aph

: s

hu

ttE

Rs

toc

k

The round of job cuts at Abu Dhabi National Oil Company (Adnoc), one of the world’s largest crude producers, should come as no surprise

for followers of the global oil sector over the past two years.

Adnoc plans to reduce its headcount by 5,000 by the end of the year from a total workforce of about 55,000.

With no obligation to sharehold-ers, national oil companies (NOCs) in the Middle East tend not to an-nounce major job cuts, but news from publicly-listed companies suggest that a 10 per cent workforce reduction is in line with global oil sector trends.

Other NOCs in the Middle East are also likely to be looking to tighten per-sonnel budgets as annual oil revenues

remain less than half of what they were during the four years up to the price crash in mid-2014.

Qatar Petroleum announced in June 2015 that it had reduced staff num-bers and decided to exit all non-core businesses without providing details. The Kuwaiti oil sector’s decision to cut employee wages resulted in widespread strikes across its operating companies in April, reducing oil, gas and refining output for three days.

Staff numbers at NOCs in the region had increased considerably, especial-ly during the boom in crude prices between 2011 and 2014. UAE consul-tancy Gulf Intelligence estimates that Adnoc’s total staff doubled over the past decade, creating congestion in middle management.Mark Watts

The prolonged period of lower crude prices means Adnoc’s layoffs will be echoed across the Middle East’s national oil companies as other producers are forced to tighten personnel budgets

More layoffs likely in oil sector

Oil & gas


Business Outlook

Aramco selects contractor for Hasbah gas field expansionLarsen & Toubro submitted low bid of $1.5bn for project off kingdom’s Gulf coast

2 billion cubic feet a day (cf/d). This will then be piped to the onshore, un-der-development Fadhili gas plant.

Saudi Arabia recently started the first production of gas from the Hasbah field. The facilities have a capacity of 1.3 billion cf/d and are piping gas to the Wasit processing plant, which was built as part of the same project.

The Hasbah expansion deal follows the four smaller Contract Release Pur-chase Orders (CRPO), worth more than $1bn combined, awarded to LTA com-panies earlier this month, as revealed by MEED in April.

McDermott was awarded deals for work on the Safaniyah and Berri fields, as well as a project on the Marjan and Zuluf fields. Saipem’s CRPO covers brownfield work on the Abu Safah field. The CRPO contracts are understood to be worth between $150m and $700m.

The first contract in the new LTA was a lump-sum deal won by McDermott in August 2015, just two months after Aramco brought in the four companies.

McDermott said the contract was for “brownfield work in various fields in offshore Saudi Arabia” and represents the largest single award in the Middle East in the company’s history.

The LTA covers six years, with op-tions to extend this for two additional three-year periods. According to two sources, Aramco has invited a fifth company to join the LTA programme. The sources confirmed reports that this company is UAE-based National Petro-leum Construction Company.Mark Watts

Saudi Aramco has selected India’s Larsen & Toubro (L&T) to carry out the expansion of its Has-bah offshore gas field,

according to three sources familiar with the project.

L&T emerged as the low bidder for the engineering, procurement and construction (EPC) tender after state-owned Aramco asked contractors to resubmit prices. The joint bid by the Indian firm and its Singapore-based consortium partner Emas came in at just under $1.5bn.

The second-lowest bidder, the US’ McDermott, submitted a price of about $1.8bn, the sources told MEED.

A fourth source familiar with the project said Aramco is still assessing bids and has yet to select a company to carry out the scheme.

Long-Term AgreementThe EPC bids were originally submit-ted on 29 November 2015 by the four groups that are part of Aramco’s Long-Term Agreement (LTA) programme for offshore oil and gas projects. The companies are:■ Dynamic Industries (US);■ Larsen & Toubro/Emas; ■ McDermott;■ Saipem (Italy).

Aramco subsequently asked the firms to submit new prices for the tender, deeming the original bids too high as it attempts to cut costs amid the current low-crude-price environment.

The Hasbah scheme will expand the production capacity of the gas field by

SAudi ArAbiA

SAudi oiL And gAS AwArdS ($m)

7,4

53

7,14

0 8,18

8

5,0

60

*=Up to 16 May. Source: MEED Projects

20132014

20152016

*

Mark Watts

Follow ‘@MEEDMark’ on Twitter for updates on what’s happening in the region’s oil and gas sectors


ph

oto

gR

aph

: D

RE

aM

sti

ME

PetroRabigh shelves facilitiestwo of the three Clean Fuels project packages have been cancelled following the submission of bids

produce 17,000 barrels a day of clean fuels. Italy’s Tecnimont has submitted the low bid for this package, according to a source. The other bidders are un-derstood to include Taiwan-based CTCI, South Korea’s Daelim, Spain’s Intecsa Industrial and Tecnicas Reunidas, and India’s Larsen & Toubro.Mark Watts

Saudi Arabia’s Rabigh Refining & Petrochemical Company (PetroRabigh) has cancelled two of the three packages on its

planned Clean Fuels Project, according to sources familiar with the scheme.

Cancelled packagesPetroRabigh tendered three engineer-ing, procurement and construction (EPC) packages in October 2015 and received bids in February. The two packages that have been cancelled are:■ Polyols production unit – capacity of 220,000 tonnes a year (t/y) of polyether polyols;■ Sulphur recovery unit – capacity of 106,000 t/y of sulphur.

PetroRabigh is still assessing bids for a third package to build a naphtha processing unit with the capacity to

abu Dhabi cancels tender for gas planttold MEED. The EPC bidders are thought to include:■ Petrofac (UK);■ Saipem (Italy);■ Tecnicas Reunidas (Spain);■ Tecnimont.

Package 4 covers the construction of a gas treatment plant and associated facili-ties on Das Island in the Gulf off the coast of Abu Dhabi.

Adnoc and its subsidiaries are carrying out the IGD-E to produce 400 million cubic feet a day of additional gas from off-shore fields to increase onshore gas sales.Mark Watts

Abu Dhabi has cancelled a tender to build a gas treatment plant on Das Island as part of its Integrated Gas Development Expan-sion (IGD-E), according to sources famil-iar with the project.

Abu Dhabi Gas Liquefaction Company (Adgas) received commercial engineer-ing, procurement and construction (EPC) bids for the fourth package of the IGD-E in December 2015. Adgas is majority-owned by Abu Dhabi National Oil Company (Adnoc).

Italy-based Tecnimont submitted the low bid for the package, but Adgas con-sidered the prices to be too high, sources

uae

PetroRab-igh is still assessing bids to build a naphtha process-ing unit

uae gaS outPut and demandBillion cubic feet a day

5.2 5.3 5

.6

6.3 6.5 6.7

source: Bp

20122013

2014

Saudi aRabia

Output

Demand


Business Outlook

Abu Dhabi to cut 5,000 jobsAdnoc has carried out 2,000 redundancies since the start of 2016 amid lower oil prices

“This is in line with our strategic goals of efficiency, profitability and perfor-mance.” The company did not comment on the number of planned redundancies.

Adnoc has seen sweeping changes of its top management since the start of 2016. Sultan al-Jaber was appointed director-general in February, replacing Abdullah al-Suwaidi.Mark Watts and Sarmad Khan

Abu Dhabi National Oil Com-pany (Adnoc) plans to cut 5,000 jobs by the end of 2016, as the state-owned firm continues to restruc-

ture and cut costs amid lower oil prices.Adnoc has already terminated the ser-

vices of 2,000 expatriate workers since the start of 2016, and has asked division managers to identify a further 3,000 job cuts by the end of this year, according to several industry sources. This would reduce Adnoc’s workforce by just over 9 per cent, from a headcount of about 55,000 at the start of 2016.

Planned redundancies“In keeping with the entire oil and gas industry, Adnoc is constantly looking at ways to be more efficient and profitable, particularly in the current market envi-ronment,” said an Adnoc spokesperson.

Further reADing

Aramco focuses on Shaybah expansion Saudi Aramco plans to complete the expan-sion of its Shaybah oil field “in a couple of weeks”. The project will increase the field’s capacity to 1 million barrels a day.

Penspen awarded Abu Dhabi oil terminal dealUK-based Penspen has won a contract to provide detailed engineering services for the modification and upgrade of oil terminals and depots across the UAE.

Firms prepare bids for Oman ammonia plantSeveral companies are preparing to bid for the construction of an am-monia plant in Salalah, southern Oman. The project owner is plan-ning a 1,000 tonne-a-day plant.

Aramco lets asphalt facilities contractCanada’s SNC Lavalin has won a $180m deal to expand asphalt production facilities at Saudi Aramco’s Ras Tanura refinery. Aramco is doubling asphalt capacity at the site.

Read more about oil and gas at www.meed.com/energy

uAe

Bids in for Mabrouk deep gas development■ Special Technical Services;■ Galfar Engineering & Contracting.

PDO said in March that the final invest-ment decision for the scheme had been approved, with phase two set to be com-pleted this year. The front-end engineering and design study for the project was car-ried out by Australia-based WorleyParsons.

PDO has already awarded several EPC deals so far in 2016. Earlier in April, India’s Larsen & Toubro won contracts worth $370m to build the Saih Nihaydah deple-tion compression phase 2 and Kauther depletion compression phase 2 projects.Mark Watts

Petroleum Development Oman (PDO) has received bids from companies vying to carry out phase three of its Mabrouk deep gas field development, according to sources familiar with the project.

The work includes building new gather-ing and surface facilities next to the exist-ing central processing plant to handle the production from 20 deep gas wells.

The firms that submitted engineering, procurement and construction (EPC) bids for the scheme are all headquartered in the sultanate. They are:■ Gulf Petrochemical Services & Trading;■ Arabian Industries Projects;

omAn

Ph

OTO

gR

APh

: K

EN

CAM

PB

ELL


Firms prequalified for sulphur-handling plant

Kuwait National Petroleum Company has prequalified companies to bid for the contract to build its planned molten sulphur-handling facility.

The plant is due to be built at Kuwait’s Mina al-Ahmadi refinery and has an estimated budget value of $100m. The tender closing date is 19 June. Ac-cording to sources, the prequalified firms include:■ ABB (Switzerland);■ CB&I (US);■ Chiyoda Corporation (Japan);■ CTCI Corporation (Taiwan);■ Daelim Industrial (South Korea);■ Daewoo Engineering & Construction (E&C; South Korea);■ Dodsal E&C (India);■ Engineering for the Petroleum and Process Industries (Egypt);■ Fluor Consultants (US);■ Foster Wheeler Energy Limited (UK);■ GS E&C (South Korea);■ Hanwha E&C (South Korea);■ Hyundai Engineering (South Korea);■ Hyundai E&C (South Korea);■ Hyundai Heavy Industries (South Korea);■ JGC Corporation (Japan);■ KBR (US);■ Larsen & Toubro (India);■ Petrofac International Limited (UK);■ Punj Lloyd (India);■ SK E&C (South Korea).Wil Crisp

The sulphur- handling facility is due to be built at Kuwait’s Mina al-Ahmadi refinery

ph

oto

gR

aph

: D

RE

aM

sti

ME

kuwait

Local group will carry out early works and site preparation for downstream scheme

Saudi-based Nesma & Part-ners has won

two contracts on the Clean Fuels Project at the Ras Tanura refinery, located on the king-dom’s Gulf coast.

State oil company Saudi Aramco awarded Nesma & Partners the engineering, procure-ment and construction (EPC) deals for the early works and site preparation packages.

EPC packages Aramco has also invited companies to bid for the two larger EPC packages on the estimated $3bn project, covering the main process units, and the offsites and utilities.

The scope for the two packages awarded to Nesma & Partners includes 69kV cable re-location and demolition, communication duct bank relocation and a heavy haul gate, as well as site preparation for the process area, a construction segrega-tion fence, a new secu-rity gate, south terminal road upgrades, the new Rahma ID office and temporary facilities.

The two packages are each estimated to be worth about $200m.

The Ras Tanura scheme was meant to have been awarded in late 2013 or early 2014, but was ear-marked for retendering after the original bids came in well over Aramco’s budget.

Ras Tanura has also been earmarked as a potential site for new chemicals production facilities, as part of the country’s refining pet-rochemicals integration plan, along with Jizan and Yanbu. However, these plans are almost certain to stall as oil prices remain low.Mark Watts

Saudi aramco awards clean fuels contracts

$200mEstimated value of each contract awarded

2014 Year by which the Ras tanura scheme was supposed to be awarded

$3bnEstimated value of the Clean Fuels project

oil and gas -...

Documents