March 11, 2018 - Contax Partners’ Energy Feed

Wood. awarded PMC contract for Oil-to-Chemical complex | Aramco signs MoU with Shell for Gas opportunities | PDO plans to transform into fully-fledged energy company

Wood. awarded PMC contract for Oil-to-Chemical complex 

Saudi Aramco and SABIC have awarded Wood., a leading provider of project management and professional and engineering services in the petrochemicals industrial field, a contract for project management and FEED (pre-FEED and FEED) for its fully integrated, strategic crude oil-to-chemicals (COTC) complex in the Kingdom of Saudi Arabia. The complex is expected to process 400,000 bpd and approximately 9 million tons of chemicals and base oils annually. Amin H. Al-Nasser, President and CEO of Saudi Aramco, stated that the COTC complex will be capable of maximizing chemical yield, recycling byproducts, optimizing resources and driving efficiencies of scale. By 2030, the COTC complex is expected to be a significant contributor to the Kingdom’s GDP and play a key role in supporting economic diversification away from crude exports to higher value industrial products.

Aramco signs MoU with Shell for Gas opportunities

Saudi Aramco took part in the UK-Saudi CEO Forum which was held to promote bi-lateral business and cooperation between the two countries. During the event, Saudi Aramco signed an MoU with Royal Dutch Shell to jointly pursue international gas business opportunities, including upstream development, liquefaction projects and other aspects of the gas value chain. Ben van Beurden, Shell Chief Executive, stated that while the signing took place now, discussions had commenced some time ago. Ben also added that concrete projects would be announced in due course.

PDO plans to transform into fully-fledged energy company

With a greater focus on using renewable energy – such as solar, tidal and wind to produce electricity – Petroleum Development Oman (PDO) is planning to transform itself into a fully-fledged energy company in the near term. Raoul Restucci, Managing Director of PDO, stated that the management has presented its plan of transforming PDO into Energy Development Oman (EDO) which covers the additional streams of services to the board. Restucci added, given that PDO is generating steam, producing water, harnessing power through solar cells installed over car parking areas and has signed contracts for flare-to-power projects, the company is more than just an oil and gas firm. Currently, EDO is still at the concept level and is being discussed by the board as it is believed that this will allow for generation of jobs and an increase in opportunities for in-country-value.