41. Jubail Export Refinery

Saudi Aramco and France's Total signed

a memorandum of understanding in May 2006 to develop the 400,000-barrel-a-day refinery at Jubail Industrial City.

The refinery will process heavy crude oil and convert it into diesel, petrol, aircraft fuel and petrochemicals products. Aramco will own 62.5 per cent of the Jubail Refining & Petrochemical Company and Total will hold 37.5 per cent.

However, 25 per cent of the firm is due to be offered to the Saudi public before the end of 2010, with Aramco and Total each retaining 37.5 per cent.

This project has now moved from the planning stag to execution, with its initial budget now revised downwards to $9.6bn from $12.8bn.

• Client: Jubail Refining & Petrochemical Company

• Sector: Oil & Gas

• Stage: Execution

• Budget: $9.6bn

• Completion date: Q4 2013

• Location: Saudi Arabia

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