Luberef's President Ali Al-Hazmi signs the contracts with Samsung at Saudi Aramco's headquarters in Dhahran, in the presence of Luberef's Chairman Mu'tassem Al-Ma'shooq, and some of its board members. The Board of Directors of Saudi Aramco Lubricating Oil Refining Company (Luberef) approved recently the Luberef Management's recommendation to award the main design, procurement and construction contracts related to Luberef's expansion project in the Industrial City of Yanbu' to Samsung Engineering of South Korea. Luberef's President Ali Al-Hazmi signed the awarding contracts with Samsung at Saudi Aramco's headquarters in Dhahran, in the presence of Luberef's Chairman Mu'tassem Al-Ma'shooq, and a number of its Board members. The expansion project will enhance Luberef's capabilities to expand into the production of 2nd-generation high-quality base oils at Luberef's refinery in the Industrial City of Yanbu'. The project is scheduled to start commercial production in the fourth quarter of 2015, enabling Luberef to double its total production in both Jiddah and Yanbu' from 600 thousand to 1.2 million metric tons. “The Yanbu' Refinery expansion project will greatly help meet the local market's requirements as well as provide Gulf and global markets with high quality base oils," Al-Ma'shooq said. “This will undoubtedly enhance the Kingdom's leading role and guarantee its top ranking position in supplying energy markets with their various needs." Jacobs, of Holland, completed the project's front-end engineering designs in February 2012 under the project team assigned by the company. Luberef owns two base oil refineries, one in Jeddah and the other in the Industrial City of Yanbu. Luberef is 70 percent owned by Aramco, and Jadwa Industrial Investment Co. gets the rest. — SG
