Project Profile
Value: US$600 million
Location: Shoaiba, 220 kilometres south of Jeddah, on the Red Sea coast, southwest of Saudi Arabia
Capacity: 400,000 barrels storage capacity of diesel, gasoline and benzene
Start-up Year: 2015
Located 220 kilometres south of Jeddah in the southwest of Saudi Arabia on the Red Sea coast, the Shoaiba project is developed to balance the distribution of the transportation fuel and petrochemical products across the whole Kingdom of Saudi Arabia. Defined as a midstream project and considered somehow as a non-strategic asset, Saudi Aramco had decided in 2011 to handle the Shoaiba Terminal project through a build-own-operate-transfer (BOOT) contract. At that time Saudi Aramco had even specify the leasing conditions of the BOOT contract based on three years construction and 22 years outsourced period of ownership and operations by a third party before the transfer to Saudi Aramco. While preparing the call for tender of the BOOT contract some time on the third quarter 2011, some parallel events led Saudi Aramco to freeze the process for a while. The Shoaiba Terminal is estimated to cost US$600 million capital expenditure as it will comprise a marine terminal and a tank farm with 400,000 barrels storage capacity of diesel, gasoline and benzene.
Operators:
Saudi Aramco: Operator with 100% interest
Contractors:
Consortium for FEED contract:
Mustang Engineering
Faisal Jamel Al-Hejailan Engineering Company (Mustang Hejailan)
Dar Al-Riyadh Engineering Consultants (DAR)
Petro-Infrastructure Engineering Consultants Company (PI Consult)