OAO Stroytransgaz and Saudi Oger Ltd., one of the largest companies of Saudi Arabia, signed today an Agreement on establishment of a Consortium with the aim to participate jointly in realization of oil and gas projects in Saudi Arabia and in other countries of the Middle East and Africa.
Wednesday, March 12, 2003
OAO Stroytransgaz and Saudi Oger Ltd., one of the largest companies of Saudi Arabia, signed today an Agreement on establishment of a Consortium with the aim to participate jointly in realization of oil and gas projects in Saudi Arabia and in other countries of the Middle East and Africa.
- Our strategic partnership with the Company of Saudi Oger Ltd. is a new event in bilateral business relations between Russia and Saudi Arabia and we hope that this partnership will be durable and fruitful, - said Leonid Bokhanovsky, First Vice-President of OAO Stroytransgaz. In his opinion there are great prospects and potential for cooperation with Saudi Arabia. In particular Leonid Bokhanovsky mentioned about the large-scale program of development of gas industry in Saudi Arabia which envisages construction of a number of projects in different regions of the Kingdom. Formation of the Stroytransgaz – Saudi Oger Consortium allows both companies to have stronger position when participating in bids for designing, supply of equipment and construction of main oil, gas and water pipeline systems, construction, modernization and reconstruction of pump and compressor stations as well as development of oil and gas fields. It will be recalled that last year OAO Stroytransgaz became the first company in Russia who established business contacts with the state company of Saudi Arabia - Saudi Aramco, the largest oil producing company in the world. At the end of 2002 Stroytransgaz was invited to have registered as an official contractor of Saudi Aramco with the aim to get the right for participation in implementation of large- scale oil and gas projects. Alongside with Saudi Aramco two more Saudi companies will become main clients of the Consortium: the State Corporation on desalination of sea water (SWCC) and SABIC, the largest industrial company in the Middle East.
