Punj Llyod bags engineering contract from Saudi oil firm
Date: 21-09-2010Punj Lloyd has secured an EPC contract of offsite pipelines from state-run oil company Saudi Aramco for its Yanbu Export Refinery Project (now called Red Sea Refining Company). The contract is likely to be executed over a period of 36 months.
This is the company’s first major pipeline project in Saudi Arabia and will be a foundation stone for exploring more opportunities in the sector. Saudi Aramco is a fully-integrated global petroleum company and a leading player in the oil and gas exploration and producing sector. The company manages the largest proven reserves of conventional crude oil and the fourth largest gas reserves in the world.
The Red Sea refinery, once operational, will process 400,000 barrels per day (bpd) of Arabian heavy crude and produce 90,000 bpd of gasoline and 263,000 bpd of ultra low sulfur diesel.crackcrack