Jubail refinery expected in 2013

JUBAIL, Saudi Arabia, June 19 (UPI) -- Saudi Aramco and French company Total awarded engineering and production contracts for the jointly held Jubail refinery slated for a 2013 launch, Total says.

Saudi Aramco Total Refining and Petrochemical Co. concluded plans to award contracts for 13 programs covering the development of the Jubail refinery, which boasts a 400,000-barrel-per-day refining capacity.

Total in a statement said the refinery will be one of the most advanced in the world, processing heavy Arabian crude products in order to meet demands for environmentally friendly fuel supplies.

"The Jubail export refinery is a strategic project for Saudi Aramco and the kingdom of Saudi Arabia, and its timely implementation will ensure that global and regional markets will be well supplied with high-quality products in the next decade," said Khalid Al-Falih, the head of Saudi Aramco.

The joint venture between the two energy giants draws on the expertise and technological advancements of both companies.

"I am delighted that we have decided to launch the development of the Jubail refinery project with Saudi Aramco," said Christophe de Margerie, the chief executive officer of Total.

Both companies agreed to work together on the Jubail refinery in 2009, signing formal shareholder agreements in June 2008.