The Saudi Arabian Oil Company (Saudi Aramco) and ConocoPhillips
(NYSE:COP) announced today the re-launch of the bidding process for the
construction of the planned 400,000 barrel-per-day export refinery at
the Yanbu Industrial City, in the Kingdom of Saudi Arabia.
“Market improvements have provided a good opportunity to reactivate the
bidding process for the Yanbu Export Refinery Project,” said Khalid G.
Al-Buainain, senior vice president, Refining, Marketing and
International, Saudi Aramco. “This state-of-the-art refinery will
provide high-quality refined products for global and domestic markets,
and will add significant value to our downstream business portfolio. It
will also support our goal of fostering increased industrial development
and job opportunities within the Kingdom.”
“ConocoPhillips is pleased to resume the bidding process now that the
markets are more favorable, and we are committed to working with Saudi
Aramco to progress the Yanbu Export Refinery Project,” said Willie C.
Chiang, senior vice president, Refining, Marketing and Transportation,
ConocoPhillips. “This project will provide very competitive new supplies
of refined products to help meet the world’s growing energy demand.”
The full-conversion refinery is being designed to process Arabian heavy
crude supplied by Saudi Aramco. It will produce high-quality, ultra-low
sulfur refined products that will meet current and future product
specifications. The project is targeted to start up in the third quarter
of 2014.
Invitation for bid notices for the early work and major packages have
been issued to prequalified local and international contractors. The
major packages include a coker unit, crude facility, gasoline unit,
hydrocracker, tank farm, offsite pipelines, high voltage electrical
packages, as well as other infrastructure packages. Early work packages
are expected to be awarded in November 2009. Bids for the remaining
packages are due in the first quarter of 2010 and are expected to be
awarded in the second quarter of 2010.
Notes to editors:
About Saudi Aramco:
Owned by the Saudi Arabian Government, Saudi Aramco is a
fully-integrated, global petroleum enterprise, and a world leader in
exploration and producing, refining, distribution, shipping and
marketing.
