Saudi Aramco, the largest oil corporation in the world, will cooperate with ConocoPhillips Company, the international energy corporation, to build a refinery in Saudi Arabia.
The refinery will be constructed on the other side of the Arabian peninsula on the Red Sea. It will be a 400,000-barrel-a-day facility.
According to the preliminary forecasts the expenses will constitute over $10 billion. The Conoco-Aramco refinery is scheduled to start up in 2013.