Saudi Aramco Plans $15 Billion Crude Oil Refinery in Jizan

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Researched by Industrial Info Resources (Sugar Land, Texas)--Saudi Aramco has experienced delays in constructing the planned 250,000- to 400,000-barrel-per-day (BBL/d) refinery in Jizan, Saudi Arabia. The refinery had an anticipated total investment value of $6 billion, which has now more than doubled to $15 billion because of increased construction costs. The refinery will process Saudi Arabian crude oil to market refined petroleum products to international markets. Saudi Aramco plans to select an engineering firm in late 2009 to perform front end engineering design work. The company will also select an engineering and construction company to perform engineering, procurement, and construction services for the refinery. Construction is planned to commence in late 2011 and take approximately 48 months.

Saudi Aramco has five domestic refineries in Riyadh, Ras Tanura, Rabigh, Yanbu and Jiddah, which have a combined capacity of approximately 1.4 million barrels per day. The company's two domestic joint-venture refineries, with ExxonMobil (NYSE:XOM) (Irving, Texas) in Yanbu and Shell (NYSE:RDS.A) (The Hague, Netherlands) in Jubail, bring the refining capacity to more than 1.9 million BBL/d. Saudi Aramco engages in the exploration and production of crude oil and natural gas. The company manufactures a wide range of petroleum products from oil and gas and markets crude oil, gas and petroleum products domestically and internationally.

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