RIYADH: The electrical interconnection between Egypt and Saudi Arabia worth $1.8 billion is set to launch its trial operation by the end of May 2025, Asharq reported.
The operations are expected to take place in two phases. The first phase is set for June 2025 with accumulative capacity of 1,500 MW while the second phase is expected to begin in November of the same year with the same capacity.
Egypt has announced that it is counting on Arab funds to raise as much as $600 million to help finance the project.
Zarqa refinery expansion
Jordan Petroleum Refinery Co. is in advanced talks with a consortium led by Italian firm Tecnimont to move forward with Zarqa refinery expansion project, MEED reported.
The consortium also involves Chinese construction firm Sinopec engineering as well as Japan’s Itochu Corp., which will be supporting the project in terms of financing.
The aim of the project is to expand the Zarqa refinery’s capacity to 150,000 barrels per day, up from the current 60,000 barrels a day.
Italian oilfield services company Saipem has sealed a $4.5 billion contract with the world’s largest liquified natural gas firm Qatargas for the North Field Production Sustainability Offshore Compression Complexes Project to be located offshore the northeast coast of Qatar, Trade Arabia reported.
The scope of the contract will include engineering, procurement, fabrication, as well as the installation of two offshore natural gas compression complexes.