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Montreal-based SNC Lavalin has signed a contract with Florexx International Investments to build a refinery in the UAE with a capacity of 100,000 barrels of petroleum products per day. SNC-Lavalin will conduct extended basic design engineering and subsequent design and delivery of the advanced topping refinery. The results of the basic engineering, projected to be out by the third quarter of 2018, will be used to support project FID approvals.
Sadara Chemical Company, a venture of Saudi Aramco and the Dow Chemical Company, has signed a contract with Amec Foster Wheeler and Partners Engineering Co. for the detailed design and procurement of two pipelines. The two EO/PO pipeline transportation systems are 7 km long, and first of its kind, in the entire region of Middle East and North Africa (MENA).
The annual MENA Energy Investment Outlook of Arab Petroleum Investments Corporation (APICORP), the multilateral development bank, predicts 3.2% growth in 2018 and 2019. It reflects that a considerable number of critical projects will be pushed in the MENA region in the next five years despite the volatile geopolitics. A total of $345 billion has been committed to ongoing projects and furthermore, $574 billion worth of development is planned.