Punj Llyod bags engineering contract from Saudi oil firm

MUMBAI - Infrastructure major Punj Lloyd has secured an engineering and procurement contract from Saudi Arabian state-run oil company Saudi Aramco.

The order was secured by the Indian firm’s Saudi Arabia based subsidiary, Dayim Punj Llyod.

In a release, Punj Lyod said the contract was for engineering, procurement and construction of offsite pipelines for Saudi Aramco’s Yanbu Export Refinery Project (now called Red Sea Refining Company), being set up on the western coast of the middle-eastern country along the Red sea.

The contract is likely to be executed over a period of 36 months. Saudi Aramco is a fully-integrated global petroleum company and a leading player in the oil and gas exploration and producing sector.

The company manages the largest proven reserves of conventional crude oil and the fourth largest gas reserves in the world.

“This is our first major pipeline project for the kingdom of Saudi Arabia and will be a foundation stone for exploring more opportunities in the sector strengthening our footprint in the market,” said Adnan Abduljawad, chief executive of Dayim Punj Llyod.

The Red Sea refinery, once operational, will process 400,000 barrels per day (bpd) of Arabian heavy crude and produce 90,000 bpd of gasoline and 263,000 bpd of ultra low sulfur diesel.