Saudi Aramco and Total Award $9.6bn in Contracts

Saudi Aramco and Total have awarded engineering, procurement and contracting (EPC) contracts worth $9.6bn, Arab News reported.

The contracts have been awarded to 13 companies for the construction of the 400,000bpd Jubail export refinery.

The project, which is to be fully operational by the second half of 2013, will process Arabian heavy crude. The project was postponed as the two companies looked to capitalise on lower construction costs and bring the total cost to less than $10bn.

The agreements were signed by Saudi Aramco Total Refining and Petrochemical Company (SATORP), a joint venture between Saudi Aramco and Total.