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Saudi to sign $50 billion in oil, gas, infrastructure deals – source


© Reuters. Saudi to sign $50 billion in oil, gas, infrastructure deals – source

RIYADH (Reuters) – Saudi Arabia plans to sign deals worth more than $50 billion (39 billion pounds) in the oil, gas, industries and infrastructure sectors at an investment conference in Riyadh on Tuesday, a source familiar with the matter said.

The deals will be signed with companies including Trafigura, Total (PA:), Hyundai (KS:), Norinco (SZ:), Schlumberger, Halliburton (N:) and Baker Hughes (N:), the source said.

The deals will include the establishment of a , zinc and lead smelter with Trafigura Group; a joint agreement to build an integrated petrochemical complex and downstream park in the second phase of the SATORP refinery, jointly held by Saudi Arabia’s Aramco and Total; and investments in retail gas stations also by Aramco and Total.

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