KBR, AYTB Announce Long-Term Maintenance Services for SATORP Refinery in Saudi Arabia
KBR (NYSE: KBR) and AYTB announced today that they have signed a seven-year contract to provide refinery maintenance services for the Saudi Aramco Total Refining and Petrochemical Company (SATORP) at a new 400,000 bpd refinery in Jubail, Saudi Arabia. The refinery represents both a major investment by SATORP, and – as a single construction effort – a unique technical challenge due to its world-class scale and complexity. The contract value is in the approximate range between $140 million and $170 million, depending on services. Production is expected to commence in 2013.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.