Target win $253m Aramco contracts

expat network

Target win $253m Aramco contracts

Target Engineering Construction Company, which maintains a strong presence in Saudi Arabia and Qatar, will be responsible for executing a variety of construction projects in the oil and gas sector.

Target was awarded seven contracts totalling AED 930 million from Saudi Aramco The three main contracts are focussed on improving Saudi Aramco’s downstream facilities.

Target will improve the quality of liquefied gas to reduce the percentage of the water component at the Shadqam and Al Othmania liquefied gas stations in a contract worth around USD 64m (AED 235m).

At the Abqiq oil refinery, Target has been contracted to improve the petroleum drainage system in a USD 74m (AED 272m).

Whilst at the Yenbu refinery Target has won a USD 37m (AED 137m) to expand Aramco’s liquefied natural gas facilities.

These awards reflect the restructuring process carried out by Arabtec over the past six months, according to the company, and which include the technical and administrative aspects of its subsidiaries, the Dubai-based construction group said in its bourse filing, adding that it seeks to increase its chances in receiving strategic projects in the field of oil and gas construction.

Source: Oil & Gas Technology

More info: http://tinyurl.com/pfs668u

Moving Abroad Checklist

Initial Considerations

Will your partner be travelling with you?

If so, what will they be giving up in your present home and will they be able to continue with their career in your new home? You will need to check whether a separate visa is required for your partner to work or if your visa gives that right. If they are unable to work you will need to decide on the effect on your finances and what alternatives are available to give a fulfilling life (home business, training, voluntary work).

Are you taking family with you?

Moving with family raises many exciting opportunities, but also can create challenges. The HSBC Expat Explorer survey indicates that expat kids can take six months to settle in to their new country (see article). Getting young or even older children to prepare to move and leave their friends and family behind can be a challenge and should be thought through.

The options for education is another area that needs to be thought through.

Moving your child to a new country with a different education system can be a great opportunity to broaden their experience, but if they are close to key exams the timing can make this inadvisable. If you do take your family with you, it is important to decide between joining the local school system or choosing an international school.

Where will you be living?

Whether you will be living in a house or apartment, furnished or unfurnished, these decisions will affect what you need to take with you. The time you are planning to live overseas will also affect whether you should leave your property at home empty, rent it out or sell it. See the article Sell, Store or Ship.