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FINANCIAL NEWS
Saudi Aramco, Air Liquide sign nitrogen deal
22 May 2011
(MENAFN) Saudi Aramco said that it signed a long term agreement with Air Liquide, a French industrial group, by which the French company would provide Saudi Aramco with nitrogen, reported Arab News.
Aramco added that Air Liquide would supply five million standard cubic feet per day of nitrogen to support sea water injection in Aramco’s oilfields and facilities for twenty years.
It also said that Air Liquide would also establish an interface inside sea water injection facilities in addition to an air separation plant in Qurayyah, south of Alkhobar. Construction work would take 18 months to be completed. Moreover, the French company signed a contract with Aramco in September to supply hydrogen to the new 400,000 barrels per day (bpd) refinery in Yanbu.
It is worth noting that Air Liquide won the deal after a bidding process. The value of the agreement was not revealed nor which oil fields would be targeted.
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