Posted on 04/12/2007 11:58:21 PM PDT by fishhound
JEDDAH — Saudi Arabia and Russia have signed a $100 million deal for laying an oil pipeline in the world's biggest sand desert, Rub Al Khali (Empty Quarter).
The agreement was signed in Dhahran recently between Saudi Aramco and Stroytransgaz, a construction arm of Russia's energy giant Gazprom. Ali Al Ajmi, vice-president of Saudi Aramco, signed the document on behalf of the Saudi side. The project will be fully implemented by the Russian partner, but workers from other countries would also be employed. Work on the proposed Sheyba-Abkayk oil pipeline, whose length exceeds 200 km (124 miles), will start in June and is scheduled to be completed in 18 months.
It is the first ever contract by a Russian company and will be a breakthrough for Russian business in a totally new market, which would provide access to other markets in the Middle East. Describing Stroytransgaz as a powerful Russian organisation, Al Ajmi said that the Russian partner has its own advanced technology and a big working experience both in Russia and abroad. He hoped that the first ever deal with a Russian contractor to build oil and gas facilities in Saudi Arabia "will mark the beginning of a long-term mutually advantageous cooperation between the two companies."
(Excerpt) Read more at khaleejtimes.com ...
“a construction arm of Russia’s energy giant Gazprom”
Gerhard Shroeder works for Gazprom.
Our friends the Saudis.
RBOB gasoline has hit $2.20 this morning.
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