Sahara International Petrochemical Co (Sipchem) Announces an update regarding the signing of a Sales Gas Supply Agreement with Saudi Aramco and Saudi Aramco Jubail Refining Company (SASREF) to be processed at Sipchem which is required to supply (SASREF) with Hydrogen Gas.
Sahara International Petrochemical Company (Sipchem) is pleased to announce safe start of supplying Hydrogen to (SASREF) after undergoing processing at Sahara International Petrochemical Company (Sipchem) on September 27, 2021.
Previous Announcement
Sipchem announces signing preliminary Hydrogen Supply Agreement with SASREF.
Date of Previous Announcement on Tadawul's Website
2019-06-09 Corresponding to 1440-10-06
Percentage of fulfilled achievement
100 %
Event's Expected Completion Date
2021-09-27
Reasons for Exceeding the Announced End Date
Due to COVID19 pandemic, the long lead equipment was received late. Productivity loss experienced in Construction due to COVID 19 regulations compliance.
The costs associated with the event, and if they have changed or not with indication of the reasons.
N/A
Impact of the Delay on the Company's Financial Results
The financial impact of this agreement will be reflected in the company’s 4th Quarter of 2021 financial results.
Additional Information
This announcement relates to the company’s earlier announcement published in Tadawul’s website on June 9, 2019, regarding the two companies having signed the preliminary agreement to supply (SASREF) with Hydrogen Gas.
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