Hyundai receives contract worth $727m from Saudi Aramco
South Korean-based Hyundai Engineering and Construction has secured a $727m contract from Saudi Aramco for the construction of a gas treatment facility at the Uthmaniyah plant.
Hyundai expects to complete the project by 2019.
The gas treatment facility will first separate and then collect natural gas fractions through a de-methaniser from gas, reported Upstreamonline.com.
The Uthmaniyah gas plant is a part of Ghawar oil field and comes with a processing capacity of around 2.5 billion cubed feet each day.
Even as the oil industry is encountering challenges, Saudi Aramco intends to proceed with oil and gas projects.
Saudi Arabia plans to double its gas production by 2030, reported Upstreamonline.com.The ongoing Midyan, Fadhili and Wasit projects are expected to add more than five billion cubic feet a day (bcfd) of non-associated gas processing capacity.
Aramco stated that the domestic natural gas supplies are expected to grow to 17bcfd over the next four years.
Hyundai E&C previously completed Saudi Aramco’s Karan gas treatment project in 2012 and Khurais gas treatment plant in 2009, reported Businesskorea.co.kr.