Aramco to Learn Jubail Price Tag by May

摘要

State Saudi Aramco and France's Total will have a clearer idea of the cost of building their 400,000 barrel per day Jubail refinery by the end of the month, when they receive engineering, procurement and construction (EPC) bids for the five core packages, Saudi Aramco Total Refinery and Petrochemical (Satorp) Chairman Samir al-Tubayyeb said Monday. "The critical number we are looking at is $10 billion max," al-Tubayyeb told reporters on the sidelines of an energy conference in Dubai, echoing calls from senior Total officials in recent months to get refinery costs below $10 billion (IOD Mar.12,p3). Last year, with the overheated contracting market and booming oil prices, the cost of building the refinery on Saudi Arabia's east coast was estimated at around $12 billion, al-Tubayyeb said.