Hyundai Engineering and Construction (E&C) announced on July 10 that it has signed US$2.7 billion contracts with Saudi Aramco to execute Package 6 and Package 12 of the Marjan Development Program.
A contract signing ceremony was held at the Saudi Aramco Dharan Office in Saudi Arabia on July 8 with the attendance of officials from the two companies, including Amin H. Nasser, president of Saudi Aramco, Ahmad A. Al-Sa'adi, a senior vice president Saudi Aramco, and Mt. Fahad E. Al-Helal, a vice president of project management at Saudi Aramco. Hyundai E&C officials included Lee Won-woo, vice president of the Plant Business Division, and Kim Hang-yeol, a managing director of the Al Khobar branch.
Saudi Aramco is building an oil and gas refining complex in the Marjan area, about 250 km northwest of Dumam in eastern Saudi Arabia, to process the oil and gas produced in offshore fields.
Package 6 is a project to expand the existing oil and gas separation facilities so that they can additionally process 300,000 barrels of oil and gas per day. Hyundai E&C will carry out the project for US$1.48 billion, which will take 41 months to finish.
Package 12 is about building power and water supply facilities for a plant that processes 2,500 million standard cubic feet of gas per day (MMSCFD). The project costs US$1.25 billion and will take 41 months for completion.
Meanwhile, Hyundai E&C is carrying out six projects worth US$1.4 billion, including the construction of Usumania ethane recovery facility, in Saudi Arabia.