A contract between Russia's Stroyneftegaz and the Saudi oil company Aramco will be signed this week for a pipeline construction project in Saudi Arabia. The project is worth more than $US 100 MLN.
It will make Stroyneftegaz the first Russian oil pipeline builder to work in Saudi Arabia. The Russian company beat off competition from Italian, Dutch and Argentinian firms.Construction of the 217 km long pipeline is to start in June.