【Haichuan Chemical Project Updates】Chinese company signs $720 million EPC contract for Saudi Aramco’s Amiral project
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On June 27, 2023, Sinopec Refining & Chemical Engineering Group issued a announcement stating that it had won the general contract for Package P5AC of Aramco’s Amiral project. The main scope of work includes the design, procurement, and construction of the project’s tank farms as well as their integration with the SATORP refinery, with Nanjing Engineering Company being responsible for carrying out the EPC work. The contract value is approximately 720 million US dollars, making it the largest turnkey refining project that Sinopec has independently undertaken in the Saudi region to date. This project is jointly funded by Saudi Aramco and the French company TotalEnergies. It involves the construction of a world-class petrochemical complex in the Jubail Industrial Complex; once completed, it will enable the conversion of refinery gases, naphtha, ethane, and natural gas supplied by Saudi Aramco into higher-value chemicals, thereby extending the industrial value chain and helping Saudi Aramco advance its petrochemical strategy further. The successful signing of this project contract is another achievement for the Refining and Chemical Engineering Group in implementing its \"Global Development\" strategy, advancing the \"Belt and Road\" initiative, and strengthening its presence in the Middle East’s engineering construction market. For the implementing party, Nanjing Engineering Company, undertaking this project represents another achievement in its pursuit of international development and deeper involvement in the Saudi market.
The contract value amounts to 79.4 billion yuan! This world-class petrochemical project has been launched! 2023-06-29 16:36·China Chemical Information Weekly On June 24, Saudi Aramco and TotalEnergies announced the signing of an EPC contract for the $11 billion (approximately 79.4 billion RMB) worth \"Amiral\" project. Located in Jubail City, the Eastern Province of the kingdom, this project is an expansion of the petrochemical facilities at Saudi Arabia’s SATORP refinery. The two companies stated that after making the final investment decision in December 2022, the signing of engineering, procurement, and construction contracts for the main processing units and related utilities marked the start of construction work on the main project. Combined with Saudi Aramco’s comprehensive refining and petrochemical plant in Jubail, the new petrochemical complex will house the GCC’s largest mixed-load steam cracking unit, capable of producing 1.65 million tons of ethylene and other industrial gases per year. It is expected that this expansion will attract over $4 billion in additional investment across various industrial sectors, and create approximately 7,000 jobs directly or indirectly in Saudi Arabia. Industries that will benefit from this complex include carbon fiber, lubricants, drilling fluids, detergents, food additives, auto parts, and tires. Amin Nasser, President and CEO of Saudi Aramco, and Patrick Pouyanne, Chairman and CEO of TotalEnergies, held a signing ceremony in Dharan to officially finalize these agreements. It is reported that the partnership between Saudi Aramco and Total was also established following the France-Saudi Arabia Investment Forum, where deals and preliminary agreements worth $2.9 billion were signed in various key sectors including energy.