Plans US$ 5bn refinery and energy export corridor
MWG Enterprises, the Fort Worth-based energy development company the Patel Family Office, the third-generation global family office, and PWS, an associate company of one of Saudi Arabia’s longest-established industrial groups AHQ Group, have together launched MERA Oil, a US-Saudi private consortium, and entered the final stage of selecting a host for their planned US$5 billion integrated refinery and energy export corridor.
After three years of evaluating locations across the Gulf, the MERA Oil consortium has narrowed the site selection process to three GCC locations outside the Strait of
While discussions with the three shortlisted locations have reached an advanced stage, the consortium remains open to a decisively superior proposition from another qualifying GCC jurisdiction capable of meeting the project’s route-resilience, infrastructure and development timetable requirements before a final host is selected, according to a press statement.
Integrated refinery
The planned development centres on a 200,000-barrel-per-day integrated refinery linked to deepwater port infrastructure, large-scale storage of crude and refined products, and marine export facilities.
Moreover, the project is intended to establish a long-term industrial base that would strengthen manufacturing, logistics, technical capability and energy security in the region.“
“The jurisdiction that moves decisively with us in the coming months stands to secure a major new downstream, storage and energy-export platform,” said Marc W. Gunderson, Founder, MWG Enterprises.
Jurisdiction
“We look forward to concluding this process with the jurisdiction best placed to move quickly and deliver,” said Abdulmalik Alqahtani, Group Chief Executive Officer, AHQ Group.
For the eventual host jurisdiction, the planned Phase One development represents a major industrial investment spanning refining, storage, port and logistics infrastructure.
The project is expected to be developed on approximately 1,200 to 1,500 acres of port-connected industrial land. It is designed to create long-term economic value through local sourcing, engineering opportunities, workforce development and industrial capability building aligned with national In-Country Value frameworks.
Employment opportunities
The development is expected to support up to 3,000 direct roles at peak across construction, commissioning and operations, together with up to 15,000 indirect and induced employment opportunities, based on preliminary sponsor estimates.
“The Patel Family Office is engaging sovereign and institutional partners who share our ambitious outlook,” said Lakshmi Narayanan, Vice Chair, Patel Family Office.
