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World News and Views :: Projects

Aramco and Total Seek Cheaper Bids For Complex in Saudi Arabia

8:08 AM MDT | June 1, 2009

Saudi Aramco and Total says they have asked engineering contractors for a second time to re-bid for Aramco and Total’s previously announced Jubail Refining and Petrochemical complex at Al Jubail, Saudi Arabia. The aim is to lower costs of the project. Contractors were asked to submit revised proposals last February, three months after submitting their original bids. The partners say the latest bids received for the 400,000-bbl/day, full-conversion refinery and aromatics complex are about $1 billion above the $10 billion budgeted for the project ( CW, May...

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