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FINANCIAL NEWS
Samsung, Aramco sign NGL preliminary deal
17 Mar 2011
(MENAFN) Saudi Aramco stated that it granted contracts to South Korea’s Samsung Engineering for the construction of the multibillion dollar Shaybah natural gas liquids (NGL) project, reported Arab News.
Aramco stated that the project was valued at between six to seven billion US dollars. Aramco also said that the project would be completed in 2014 and would have the capacity of processing 2.4 billion cubic feet per day of low-sulfur sweet gas.
Aramco also said that Samsung would be in charge of all engineering, procurement and construction (EPC) work of four sub-projects in Shaybah.
Aramco did not disclose the value of the contract nor the sub projects.
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