Daelim inked the contract for the USD 220 million (KRW 252.3 billion including the stake of Daelim’s Saudi subsidiary) Rabigh II Project CP-1 Package during a contract signing ceremony held at the head office of Saudi Aramco in Dhahran, Saudi Arabia on July 18, 2012 (Saudi local time). Daelim will implement the project in EPC lump sum turnkey mode, through which its Plant Business Division will take charge from design and procurement to construction.

As a joint project of Saudi Arabia’s state-owned oil company, Aramco, and Japanese Sumitomo Chemical, the Rabigh II Project seeks to construct a mega comprehensive petrochemical complex along the Red Sea coast around Rabigh City.

Daelim won the contract for the CP-1 Package, a project of building a plant producing Cumene through the catalyst reaction process using propylene and benzene and producing Phenol and Acetone using Cumene as raw material. Phenol is generally used for surgery sterilizer and pharmaceutical production process. Acetone is used for the production of paints, abstergents, and plastics. The total construction duration is 36 months from the contract date, and the project is slated to be completed in June 2015.

'Daelim inks contract for Saudi Arabia’s Rabigh II CP-1 Project '

SAN RAMON, Calif., July 30, 2012 – Chevron Corporation (NYSE: CVX) announced that its subsidiary will proceed with the development of the Lianzi field located in a unitized offshore zone between the Republic of Congo and the Republic of Angola.

Located 65 miles (105 km) offshore in approximately 3,000 feet (900 meters) of water, the Lianzi field will be developed via a tieback to the existing Benguela Belize Lobito Tomboco (BBLT) platform located in Angola Block 14.

"Lianzi is Chevron's first operated asset in the Republic of Congo and builds on Chevron's strong position in West Africa, one of the world's key hydrocarbon basins," said George Kirkland, vice chairman, Chevron Corporation.

"As the first cross-border development in the region, Lianzi represents a unique cooperative approach to shared offshore resources and may serve as a model for the development of similar cross-border fields between the two countries," said Ali Moshiri, president of Chevron Africa and Latin America Exploration and Production Company.

The $2.0 billion development will include a subsea production system and a 27 mile (43 km) electrically heated flowline - the first of its kind at this water depth - to transport the oil from the field to the BBLT platform. First oil is expected in 2015. Once completed, the project is expected to produce a maximum of 46,000 barrels of oil equivalent per day.

Chevron Sanctions the Lianzi Project offshore Angola and the Republic of Congo

SNC-Lavalin (TSX: SNC) is pleased to announce that SNC-Lavalin Fayez Engineering (SLFE), an engineering consultancy joint venture between SNC-Lavalin and its local partners, recently acquired the industrial division of Zuhair Fayez Partnership, a well-respected Saudi Arabian engineering consulting company. SLFE was formed partly in response to Saudi Aramco’s General Engineering Services Plus (GES+) initiative, which aims to develop engineering capabilities in the Kingdom.

Under the GES+ initiative, SLFE will be invited to bid on front-end engineering and select detailed engineering services contracts to support the implementation of Saudi Aramco’s capital program. Projects will include both on- and offshore oil and gas production and processing facilities, infrastructure projects, as well as refining and petrochemical facilities.

SLFE has commenced work on engineering services mandates for the GES+ initiative, all of which were competitively bid in-Kingdom by four Saudi Aramco-qualified GES+ contractors. The work is being executed out of SLFE’s head offices located in Al-Khobar, Saudi Arabia.

Technip was awarded by the petrochemical company Al-Jubail Petrochemical Company (KEMYA)(1) - a joint venture between SABIC and Exxon Chemical Arabia, an affiliate of ExxonMobil Chemical Company - a contract for the engineering, procurement and construction of an Halobutyl(2) facility, located in Al-Jubail, Saudi Arabia.

This project is part of the Saudi Elastomers Program undertaken by KEMYA to set up a world-scale specialty elastomers facility to serve local markets, the Middle East and Asia. This new facility will produce 110,000 tons per year of rubber using ExxonMobil licensed technology.  Technip’s operating center in Abu Dhabi, United Arab Emirates, will execute the contract.