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Petrofac Awarded Contract for Rabigh II Project

10:10 AM MDT | July 10, 2012 | Deepti Ramesh

Sumitomo Chemical tells CW that Saudi Aramco and Sumitomo have awarded a contract to Petrofac (London) for their previously announced Rabigh II Project at Rabigh, Saudi Arabia.  Additional details of the contract were not disclosed. Last May, the Petro Rabigh petrochemicals joint venture of Aramco and Sumitomo decided to go ahead with the Rabigh II Project following a joint feasibility study. The project is expected to involve a total investment of about $7 billion. The Petrofac contract is valued at about $500 million, say press reports. Aramco and Sumitomo...

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