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Aramco, Total say to Invest $9.6 Bln for Jubail Refinery - ASHARQ AL-AWSAT English Archive
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PARIS,(Reuters) – Saudi Aramco and French oil major Total have agreed to invest $9.6 billion to build the 400,000 barrels per day Jubail refinery in Saudi Arabia, a source familiar with the situation said on Thursday.

“The SATORP board met in Paris on June 16 and decided to attribute the 13 remaining packages to build the Jubail refinery at a cost of $9.6 billion,” the source said.

SATORP is a joint venture between Saudi Aramco and Total.

“It is important to note that we are below the $10 billion level,” he said

Total and Saudi Aramco had delayed their investment decision to pressure contractors to lower their costs.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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