Petrofac has secured two contracts valued at USD 1.4 billion for the engineering, procurement and construction of a refinery and associated terminal in Saudi Arabia. The contracts were awarded by Saudi Aramco, a Saudi Arabia based oil and natural gas company.
As per the terms of the contract, the company will provide EPC services to the Jazan refinery which will be built in the province of Jazan and is expected to have a capacity of 400,000 barrel per day.
Petrofac will construct the associated terminal on the red sea to manage crude carriers which will supply crude oil to the refinery and also export the refined products produced from the refinery. Saudi Aramco has scheduled both the EPC packages to be undertaken within three years.