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Saudi Arabian Oil Company News

18 May 2022

FUELTRAX Taps IMS for Middle East Sales

Š morgan rauscher / Adobe Stock

Fuel management solutions company FUELTRAX reports it has named Integrated Marine Solutions (IMS) as its Saudi Arabian partner to focus on sales and installation for clients in the region.Located in northeastern Saudi Arabia, along the Arabian Gulf, IMS is based in Tanajib, home to a major Saudi Arabian Oil Company oil complex. The company’s technicians have been trained by FUELTRAX and have already worked with FUELTRAX on five installations in the United Arab Emirates.“It is vital to FUELTRAX to have strong local support presence close to areas where we have concentrations of clients…

25 Dec 2019

Saudi Aramco, Korea Shipbuilding Roll-out New JV

Korea Shipbuilding & Offshore Engineering (KOSE), a manufacturer of oil tankers, cargo and passenger vessels, and warships, and Saudi Arabian Oil Company (Saudi Aramco) plans to set up a joint venture to build engines.According to South Korea’s Yonhap News Agency the JV will break ground for the plant in the King Salman International Complex for Maritime Industries and Services in the kingdom’s eastern coast in September 2020, and the project is set to be completed in May 2022.The Korean company is working to build a shipyard at the complex through a separate JV with Saudi Aramco, UAE-based Lamprell and the Saudi National Shipping Company (Bahri).

19 Sep 2019

Aramco Uses Renewables in Gas Wells

Saudi Arabian national petroleum and natural gas company Saudi Aramco said that using renewable energy at unconventional well sites in Wa’ad Al-Shamal provides multiple benefits to the company."Not only is it a reliable and less expensive way to power the remote wells, but it also reduces carbon emissions and helps to save hydrocarbons for export by providing natural gas for the region’s power generation," Saudi Arabian Oil Company said.A new collaboration between the Power Systems Renewables Department (PRSD) and Unconventional Resources (UR) is not only saving costs while creating value, but is also reducing Saudi Aramco’s environmental…

13 May 2019

Oil&Gas Industry Records 1242 Contracts in Q1

The Oil and Gas industry reported 1242 contracts, of which 1178 were awarded contracts, said Quarterly Oil & Gas Industry Contracts Review.Europe, the Middle East and Africa (EMEA) region recorded the most contracts with 569 contracts, representing around 48% of the total awarded contracts in Q1 2019, followed by Americas region with 366 contracts, accounting for 31% of the total awarded contracts.Upstream sector reported 73% of the total awarded contracts, with 862 contracts. The midstream sector recorded 156 contracts, representing 13% of the total awarded contracts, followed by 141 contracts in the downstream sector; representing 12% of the awarded contracts during the quarter…

21 Apr 2019

Aramco Buys Shell's Stake in Saudi JV

The Saudi Arabian Oil Company (Saudi Aramco) is  planning to buy oil major Shell's 50% stake in Saudi Aramco Shell Refining Co (SASREF), a Saudi refining complex developed as a joint venture between the two oil companies,  for $631 million.Abdulaziz Al-Judaimi, Saudi Aramco‘s Senior Vice President of Downstream, said: “The partnership with Shell has led to a strong record of performance and delivery of refined products. Saudi Aramco will take full ownership and integrate the refinery into its growing Downstream portfolio. SASREF will continue to be a critical facility in our refining and chemicals business and we look forward to further optimising its performance and long term viability.”John Abbott…

13 Nov 2018

Saudi Aramco, ADNOC to Cooperate on LNG

The state-owned energy giants of Saudi Arabia and the United Arab Emirates, Saudi Aramco and Abu Dhabi National Oil Company (ADNOC), signed a cooperation deal to explore potential areas for mutual collaboration in the LNG value chain aimed at bolstering gas production and revenue.The Saudi Arabian national petroleum and natural gas company based in Dhahran said in a press release that it has signed a framework agreement  with ADNOC to explore opportunities for collaboration in the Natural Gas and Liquefied Natural Gas (LNG) sector.The cooperation brings together two of the world’s leading energy producers from the Arabian Gulf to jointly work together in an area of strategic importance for both companies as they seek to boost revenues from the natural gas and LNG business segments…

19 Oct 2017

ARO Drilling Commences Operations

ARO Drilling, a 50/50 joint venture between Rowan Companies plc and the Saudi Arabian Oil Company (Saudi Aramco), commenced operations on October 17, 2017. As part of the initial startup of ARO Drilling, Rowan and Saudi Aramco contributed equal amounts of cash into the joint venture. Following these contributions, Rowan sold three of its jack-up drilling rigs to ARO Drilling, including the J.P. Bussell, which was previously idle, and Saudi Aramco sold one of its jack-up drilling rigs to ARO Drilling. Following the purchase of these drilling rigs, ARO Drilling distributed excess cash in the amount of approximately $88 million to each of Rowan and Saudi Aramco maintaining each party's 50% ownership interests in the joint venture.

05 Mar 2002

Technip-Coflexip Wins Gas Plant Expansion Project

TECHNIP-COFLEXIP has been awarded, by Saudi Arabian Oil Company SAUDI ARAMCO, for the expansion of the Berri gas plant to handle additional output of sour gas from the Qatif field, which is now under development. TECHNIP-COFLEXIP will provide a low-pressure gas sweetening unit, two new sulfur recovery units, a new feed gas compressor, the revamp and capacity increase of the existing propane refrigeration unit, the upgrade of the existing sulfur recovery units to meet higher recovery rates, the upgrade of the inlet and flare facilities, additional sulfur storage capacity and the expansion of the existing utility systems to serve the new facilities.

31 Aug 2006

Rowan Obtains Drilling Contracts in Saudi Arabia

Rowan Companies, Inc. was awarded term drilling contracts by the Saudi Arabian Oil Company (Saudi ARAMCO) for two Tarzan Class jack-up drilling rigs to begin operating offshore Saudi Arabia in 2007. Each contract is for a four-year term. The relocation of the two rigs from the Gulf of Mexico will begin in January 2007 and the rigs should be operational in Saudi Arabia by the end of the first quarter. Rowan estimates that revenues from the contracts will be in excess of $550m. Danny McNease, Chairman and Chief Executive Officer, commented, "We are pleased to expand our relationship with Saudi ARAMCO and again want to thank Rawabi Trading & Contracting Co. Ltd. for their assistance.