Sinopec inks $1.1 billion deal with Saudi Aramco
The agreement stipulates that Sinopec is to complete the construction by the end of May 20
Dubai: Sinopec service unit announced it has signed a $1.10 billion (Dh4 billion) contract to construct natural gas pipelines for Saudi Aramco.
Sinopec or China Petroleum and Chemical Corporation is a Chinese oil and gas enterprise based in Beijing founded in 2000.
The contract involves Sinopec Oilfield Service Co. procuring and building the third phase of the Master Gas System in Saudi Arabia, according to Sinopec.
Sinopec will be responsible for constructing parts of the pipeline network, including 2,630 km of trunk lines and 1,340 km of branch lines, as part of Aramco's initiative to enhance gas distribution across the Kingdom.
The agreement stipulates that Sinopec is to complete the construction by the end of May 2027.
Earlier this year, Aramco awarded contracts totaling over $3.3 billion (Dh12 billion) to Sinopec and for the construction of a gas facility in Saudi Arabia.
The contract includes the development of a new facility in Saudi Arabia called the Riyas natural gas liquids facility, part of the Jafurah unconventional gas production project.