Hyundai Engineering and Construction has signed a contract to build a project for Saudi Aramco’s Uthmaniyah plant for 833.10bn won ($727mn), the South Korean company announced recently.
According to a statement released by Hyundai, the contract is expected to be completed by November 26 2019.
Sources told Reuters that Hyundai had won the deal after offering discounts to build the gas treatment facility at Uthmaniyah.
Despite lower oil prices, Saudi Arabia is pressing ahead with investment, looking to gas to meet rising domestic demand.
The aim of the Uthmaniyah project is to recover ethane as well as propane and other natural gas liquids (NGL) from 1.4 bscf/d of sales gas.
Uthmaniyah is part of Ghawar, the world’s largest onshore oilfield, with a processing capacity of 2.5 bscf/d.
