In a recent television interview, the Crown Prince Mohammed Bin Salman of Saudi Arabia stated that the country is in talks to sell 1 % stake in the state-owned oil major Saudi Aramco to a leading energy company.
Chemical companies are filling up plant order books: Between 2005 and 2015, global investment in the sector increased by nearly a factor of three and currently stands at more than $ 200 billion. Most of these plants are based on conventional design and construction, but the engineering departments at chemical companies and EPC contractors are about to make major changes to the engineering process.
Sadara signed a Memorandum of Understanding (MOU) with Gulf Interchem, a Bahrain-based technology company, for a by-products upgrade project based in Plas Chem Park, a collaborative industrial park between Sadara and the Royal Commission for Jubail and Yanbu (RCJY) in Jubail Industrial City II.
Saudi Aramco has recently signed agreements with several oil and gas service contractors for its mega oil and gas projects that will be designed to enhance the company’s energy sustainability, expand gas production, localize domestic content and also diversify the economy. The agreements are valued at nearly 4.5 billion dollars in total.
Saudi Aramco has entered into a strategic partnership with Petronas Chemicals Group Berhad (PCG) for its petrochemicals projects within the Petronas Pengerang Integrated Complex (PIC) in the southern Malaysian state of Johor.
Dow and Saudi Aramco announced a non-binding Memorandum of Understanding (MOU) that involves the acquisition of an additional 15 % ownership interest by Dow from Saudi Aramco in Sadara, a joint venture developed by the two companies.
Amec Foster Wheeler has been awarded a contract by Saudi Aramco, for facilities required as part of the integrated oil and gas expansion of the Marjan offshore and onshore oilfield in the Eastern province of Saudi Arabia.
National Oilwell Varco announced entering into a memorandum of understanding with Saudi Aramco to form a joint venture in Saudi Arabia. The joint venture will manufacture high-specification land rigs, rig and drilling equipment, and offer certain aftermarket services.