Aramco Awards Contracts Worth $7.7 Bln to Add 1.5 BSCFD of Raw Gas to Fadhili Gas Plant

Saudi Aramco awarded engineering, procurement, and construction (EPC) contracts worth $7.7 billion for a major expansion of its Fadhili Gas Plant in the Eastern Province. (SPA)
Saudi Aramco awarded engineering, procurement, and construction (EPC) contracts worth $7.7 billion for a major expansion of its Fadhili Gas Plant in the Eastern Province. (SPA)
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Aramco Awards Contracts Worth $7.7 Bln to Add 1.5 BSCFD of Raw Gas to Fadhili Gas Plant

Saudi Aramco awarded engineering, procurement, and construction (EPC) contracts worth $7.7 billion for a major expansion of its Fadhili Gas Plant in the Eastern Province. (SPA)
Saudi Aramco awarded engineering, procurement, and construction (EPC) contracts worth $7.7 billion for a major expansion of its Fadhili Gas Plant in the Eastern Province. (SPA)

Saudi Aramco, one of the world’s leading integrated energy and chemicals companies, awarded on Tuesday engineering, procurement, and construction (EPC) contracts worth $7.7 billion for a major expansion of its Fadhili Gas Plant in the Eastern Province of Saudi Arabia.

The project is expected to increase the plant’s processing capacity from 2.5 to 4 billion standard cubic feet per day (BSCFD).

This additional 1.5 BSCFD will help the company realize its strategy of raising gas production by more than 60% over the 2021 levels by 2030.

The Fadhili Gas Plant expansion, set to be completed by November 2027, is also expected to add 2,300 metric tons to the daily sulfur production.

Aramco Executive Vice President of Technical Services Wail Al Jaafari said: “These contracts reflect Aramco’s goal to increase natural gas supplies, help efforts to reduce greenhouse gas emissions, and free up more crude oil for value-added refining and export.”

“Together with leading international companies, we are advancing our goal to increase gas production. The expansion also supports our ambition to develop a lower-carbon hydrogen business, while associated liquids from gas are an important feedstock for the petrochemical industry,” he added.

Aramco awarded the EPC contracts for the Fadhili Gas Plant expansion project to SAMSUNG Engineering Company, GS Engineering & Construction Corporation, and Nesma & Partners.



E-commerce Giant Alibaba Has Completed 3-year 'Rectification' Period

Alibaba Group has completed three years "rectification" following a fine levied in 2021 for monopolistic behavior. Reuters
Alibaba Group has completed three years "rectification" following a fine levied in 2021 for monopolistic behavior. Reuters
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E-commerce Giant Alibaba Has Completed 3-year 'Rectification' Period

Alibaba Group has completed three years "rectification" following a fine levied in 2021 for monopolistic behavior. Reuters
Alibaba Group has completed three years "rectification" following a fine levied in 2021 for monopolistic behavior. Reuters

China's State Administration of Market Regulation issued a statement on Friday saying Alibaba Group had completed three years "rectification" following a fine levied in 2021 for monopolistic behavior.
In 2021, the regulator slapped a record $2.75 billion fine on the e-commerce giant for abusing its market position by forcing merchants on its platforms not to work with rival platforms.
The regulator's statement said Alibaba's rectification work had achieved "good results" and that it would continue to "guide" Alibaba to continue to "regulate its operations and improve its compliance and quality."
The fine levied on Alibaba in 2021 came during a period of intense scrutiny for the business empire founded by billionaire Jack Ma, Reuters reported. A $37 billion IPO by the finance arm he founded, Ant Group, was also scuttled following Ma's public critique of the country's regulatory system in late 2020.
Alibaba, in its own statement, described the regulator's announcement on Friday as a "new starting point for development" and said it would continue to "promote the healthy development of the platform economy and create more value for society."