Saudi Aramco and Japan’s Sumitomo Corporation expect to make a final investment decision on the second-phase expansion of their refinery and petrochemicals complex at Rabigh in Saudi Arabia by the end of 2010.
A source close to the state-run firm says a decision is due in the fourth quarter of 2010, following the completion of a feasibility study.
“The feasibility study is on course to be done by the third quarter of 2010 and the partners will then decide by the end of 2010 on the investment,” says an Al-Khobar-based executive close to the project.
In June Petro-Rabigh, a joint venture between Aramco and Sumitomo, awarded two project management contracts to Japan’s JGC Corporation for the facility (MEED 28:6:09).
Both contracts cover a feasibility study on the second-phase expansion of the estimated $10bn complex. The first will be completed in Saudi Arabia by JGC Gulf International of Saudi Arabia, and the second in Japan by JGC Corporation.
The first phase of the Petro-Rabigh scheme opened on 8 November.