Saudi Aramco, the world's largest oil exporter, awarded long term agreements to eight contracting companies for a number of plant upgrade projects.
The six-year contracts, which come with a provision to extend for another six years include engineering, procurement, construction, start-up and pre-commissioning of each project, as well as the installation of the upgraded facilities in the designated operating areas, Aramco said on Wednesday.
The companies that won the contracts include a consortium of Nasser Saeed Al Hajri and Contracting and Samsung, Daelim, ENPPI, GS Construction Arabia, Snamprogetti, JGC Gulf Engineering, Technip as well as Hyundai Engineering and Construction.
The company did not disclose the value of the contracts.
"These LTAs [long-term agreements] which are associated with huge business ... allow us to boost the performance of our brownfield and upgrade projects," said Ahmad Al Sa'adi, Aramco’s technical services senior vice president.
Earlier this year, the world's largest oil-exporting company signed partnership agreements worth more than $21 billion with international companies to work across its value chain in the energy sector. Saudi Aramco also signed a $110 million joint venture with Baker Hughes in the non-metallics sector.
The company is also planning to increase the amount it procures locally, aiming to meet at least 70 per cent of procurement spending from Saudi Arabian companies by 2021.
Aramco, which floated a 1.75 per cent stake on Tadawul in December last year, returned to global bond markets last week.
The company will begin issuing senior, unsecured bonds denominated in US dollars, but said the amount issued and the bond values are "subject to market conditions".
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What is Folia?
Prince Khaled bin Alwaleed bin Talal's new plant-based menu will launch at Four Seasons hotels in Dubai this November. A desire to cater to people looking for clean, healthy meals beyond green salad is what inspired Prince Khaled and American celebrity chef Matthew Kenney to create Folia. The word means "from the leaves" in Latin, and the exclusive menu offers fine plant-based cuisine across Four Seasons properties in Los Angeles, Bahrain and, soon, Dubai.
Kenney specialises in vegan cuisine and is the founder of Plant Food Wine and 20 other restaurants worldwide. "I’ve always appreciated Matthew’s work," says the Saudi royal. "He has a singular culinary talent and his approach to plant-based dining is prescient and unrivalled. I was a fan of his long before we established our professional relationship."
Folia first launched at The Four Seasons Hotel Los Angeles at Beverly Hills in July 2018. It is available at the poolside Cabana Restaurant and for in-room dining across the property, as well as in its private event space. The food is vibrant and colourful, full of fresh dishes such as the hearts of palm ceviche with California fruit, vegetables and edible flowers; green hearb tacos filled with roasted squash and king oyster barbacoa; and a savoury coconut cream pie with macadamia crust.
In March 2019, the Folia menu reached Gulf shores, as it was introduced at the Four Seasons Hotel Bahrain Bay, where it is served at the Bay View Lounge. Next, on Tuesday, November 1 – also known as World Vegan Day – it will come to the UAE, to the Four Seasons Resort Dubai at Jumeirah Beach and the Four Seasons DIFC, both properties Prince Khaled has spent "considerable time at and love".
There are also plans to take Folia to several more locations throughout the Middle East and Europe.
While health-conscious diners will be attracted to the concept, Prince Khaled is careful to stress Folia is "not meant for a specific subset of customers. It is meant for everyone who wants a culinary experience without the negative impact that eating out so often comes with."
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