Posts Tagged ‘(LSTK) contract’

Saudi Aramco revives Shoaiba Terminal project on Red Sea

Mustang-Hejailan-DAR-PI signed Shoaiba project FEED Saudi Aramco selected Mustang Engineering and its local partners Faisal Jamel Al-Hejailan Engineering Company (Mustang Hejailan), Dar Al-Riyadh Engineering Consultants (DAR) and Petro-Infrastructure Engineering Consultants Company (PI Consult) for the front end engineering and design (FEED) contract of the Shoaiba Terminal project. Located in the southwest of Saudi […]

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M&G to build world largest PET single line in Texas Corpus Christi

M&G to invest $1 billion in PET and PTA plants in USA The Italian company Mossi & Ghisolfi Gruppo (M&G Group) made the final investment decision (FID) for to build a greenfield polyethylene terephthalate (PET) and purified terephthalic acid (PTA) plants in Corpus Christi in Texas, USA. M&G Group is a […]

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Norway approved Total $4.2 billion Martin Linge project

Total lowers Carbon Footprint with Power from Shore Previously called Hild, the Martin Linge development belongs to Total E&P Norge AS (51%), the operator, Petoro AS (30%) and Statoil Petroleum AS (19%). End of March, the Norwegian Government approved the development plan for the Martin Linge oil and gas field. Total capital […]

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Sulfur may cost $600 million extra in Wasit Gas Project

Saipem submitted $600 million change order to Saudi Aramco The Wasit Gas Development Program represents $4.6 billion capital expenditure to build an onshore grass-roots Central Processing Facility (CPF) to process 2.5 billion cf/d of gas from the Arabiyah & Hasbah offshore fields and produce approximately 1.75 billion cf/d of sales […]

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Lump Sum Turn Key Contract

Definition: A “Lump Sum Turn Key (LSTK) Contract” refers to bidding terms and conditions between the End User and an EPC which don’t allow any financial change for a given scope of work until the EPC is able the deliver the newly built plant in full operations to the End […]

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