Tecnicas, Petrofac to build SR17.62bn Saudi gas project

Updated 15 September 2015
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Tecnicas, Petrofac to build SR17.62bn Saudi gas project

DUBAI: Spain's Tecnicas Reunidas and Britain's Petrofac have been selected for contracts worth as much as SR17.62 billion ($4.7 billion) to build the Fadhili gas plant in Saudi Arabia for state oil company Saudi Aramco, industry sources said on Tuesday.
"They received notification last week; a letter of intent," said one of the sources.
Petrofac and Tecnicas declined to comment. Saudi Aramco said it does not comment on its business plans.
The new plant is to have a processing capacity of 2.5 billion standard cubic feet per day (scfd) of sour gas from the onshore Khursaniyah and offshore Hasbah fields.
The project is split into three construction packages for the gas processing unit, utilities and offsite facilities such as nitrogen, steam, power and water systems, and sulfur recovery.
Italy's Saipem and South Korea's Daelim Industrial had previously been said to be among the bidders, sources told Reuters in July.
Tecnicas bid for two of the packages on its own, and for the third in conjunction with South Korea's GS Engineering and Construction, according to a second industry source.
Ultimately, the Spanish firm won the two packages in which it bid solo: For the gas processing unit for as much as $2 billion and for utilities and offsites, worth as much as $1 billion, according to the first industry source and a separate source.
Three sources confirmed that Petrofac won the package for sulphur recovery worth as much as $1.7 billion.
Aramco said in its 2014 annual review published in May that the Fadhili gas plant was on track to come onstream by 2019.
Fadhili, together with Aramcoís other gas projects in Wasit and Midyan, are slated to add more than 5 billion scfd of non-associated gas processing capacity, which will help the company meet soaring domestic demand for industrial use and electricity generation in the world's largest oil exporter.
Gas production remains a top priority for Saudi Arabia as it wants to limit direct crude oil burning for electricity, thereby preserving its ability to increase oil exports.


Samsung delays Galaxy Fold media events in China

Updated 22 April 2019
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Samsung delays Galaxy Fold media events in China

  • Instead of plaudits ahead of the phone’s launch on April 26 in the US, Samsung has instead received brickbats
  • The hashtag #foldgate trended on Twitter because of the smartphone issues

SEOUL: Smartphone maker Samsung postponed media events for its Galaxy Fold planned for this week in Hong Kong and Shanghai, a company official said, days after reviewers of the foldable handset reported defective samples.
The official did not elaborate on reasons or rescheduling.
Instead of plaudits ahead of the phone’s launch on April 26 in the United States, the South Korean conglomerate has been blighted by technology journalists reporting breaks, bulges and blinking screens after using their samples for as little as a day.
Samsung said it received “a few” reports of damage to the displays of samples of the $1,980 handset, raising the specter of the combustible Galaxy Note 7 three years ago which the firm ultimately pulled from shelves at massive cost.
The reviewers’ reports of broken screens went viral online and prompted the creation of hashtag #foldgate on Twitter.
Samsung has hailed the folding design as the future in a field that has seen few surprises since Apple’s iPhone in 2007. Chinese rival Huawei Technologies has also announced a folding handset, the Mate X.
The Samsung official on Monday said it had no change to its previously announced release date in the United States.
It plans to begin South Korean and European sales in May, and Chinese sales from an undisclosed date.