Satorp signs second agreement for its Jubail Refining and Petrochemical Project

The contract was awarded to Abdul-Rahman M. Al-Shalawi Est., one of the national companies operating in this field.

This agreement that was signed after one month following the award of the Temporary Facilities Contract represents the second among a total of 15 agreements to be signed by Satorp for the completion of the joint venture project between the two shareholders Saudi Aramco and Total.

The CEO, Engineer Salem H. Shaheen, accompanied by a number of the Company's senior officials, held meetings in Rome, Italy during the last week, where he provided the international contractors involved with a lot of information on the project to help them in the preparation of their bids. Similar meetings are also scheduled with qualified local contractors at Al-Khobar, Saudi Arabia.

Signing this agreement amidst the current international economic circumstances emphasizes the keenness of the shareholders, Saudi Aramco and TOTAL, to proceed forth with this vital project as planned and according to the proposed time schedule.

This refinery, that is expected to start production by the end of 2012, has a processing capacity of 400,000 bpd of Arabian Heavy crude.