Petrofac and Hyundai win Saudi gas contracts

Feb 28, 2009 01:00 AM

Top oil exporter Saudi Aramco said it has awarded onshore contracts for the Karan gas field to UK-based Petrofac and South Korea's Hyundai Engineering and Construction. Aramco signed the contracts with the two firms, it said.
"The signature of the two contracts... embodies Saudi Aramco's adherence to fulfilling the domestic market's need for gas," it said.

The turnkey contract awarded to Petrofac will cater mainly for engineering, procurements and construction for utilities and cogeneration at Karan and includes laying a 47-km-long (29-mile) pipeline and building a power plant, Aramco said.
Hyundai's turnkey contract covers Karan's facilities and provides for the construction of a unit to process and deliver the gas as well as back-up utilities for all the gas-processing units, it added.

The cost of the project was reported to have fallen by at least 20 % from previous estimates that pegged it as high as $ 5 bn.
Karan will produce 1.5 bn cfpd. Gas from the field will be processed with gas from the Moneefa oilfield.

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