Two contractors win U$S3.3bn worth of work with Saudi Aramco
25 January 2024
Aramco sign on the building at its office in Houston, Texas, USA (Image: JHVEPhoto via AdobeStock - stock.adobe.com)
A joint venture between Spanish contractor Técnicas Reunidas and Chinese firm Sinopec have won two contracts with Saudi oil and gas company Saudi Aramco for more than US$3.3 billion.
Together, they have been selected as the EPC contractor to build the Riyas NGL Fractionation Facility in Saudi Arabia.
The joint venture is 65% owned by Técnicas Reunidas and 35% by Sinopec Engineering Group, which means that the Spanish company will account for more than US$2.15 billion of the total investment.
The works will be developed on the basis of two EPC (engineering, procurement and construction) contracts for the execution of Riyas NGL Fractionation Trains (Package 1) and Riyas NGL Common Facilities (Package 2), which includes utilities, storage and export facilities.
The new facility will produce ethane, propane, butane and pentane.