Saudi oil giant Aramco has signed a non‐binding Letter of Intent (LoI) with a joint venture of Spanish group Técnicas Reunidas (60%) and China's Sinopec (40%), for the potential development of three gas compression plants at Jafurah, the largest unconventional gas field in the Kingdom of Saudi Arabia.

 

The LoI also relates to potential work to install a 230kV power connection at the gas plant substation area and upgrade the water pump system, said Técnicas Reunidas in a statement.

 

If awarded, the total value of the project is estimated at approximately $2.24 billion, of which 60% would correspond to Técnicas Reunidas, it stated.

 

The entire work will be completed in about 44 months, said the Spanish group.

 

More than 400 engineers will have to be deployed for the project, many of them specialized in chemical processes, it added.-TradeArabia News Service