Flowserve Corporation (NYSE:FLS) (the “company”) will support the construction of Aramco’s Jafurah project, one of the largest commercial unconventional gas fields being developed in the Kingdom of Saudi Arabia. As previously announced in its third quarter earnings call, the company is proud to confirm it will supply over 400 pumps for the project. The value of these awards was included in Flowserve’s third quarter 2022 backlog.
Flowserve is working with three engineering, procurement and construction (EPC) companies, who will utilize a diverse portfolio of pumps, mechanical seals and sealing systems for different components of the Jafurah project. These include the gas treatment and sulfur removal facilities, utilities and interconnecting systems, and the produced water and gas compression facilities. Upon the project’s completion, it is hoped that it will play a key role in Saudi Arabia’s journey toward utilization of a lower-carbon feedstock for power generation, provide valuable feedstock to large petrochemical production facilities, and aims to be a critical enabler for Aramco’s participation in the blue hydrogen industry.
The cornerstone of Aramco’s long-term goals directly links to its In Kingdom Total Value Add (IKTVA) program. Through strategic partnerships, the company aims to invest in the future of Saudi Arabia by capturing value that produces long term benefits in the company and within the communities it serves. “We are confident in our strategy to invest in our manufacturing capabilities in the Kingdom of Saudi Arabia, and the size and scope of this order reinforces our continued commitment into the future,” said Tamara Morytko, president, Flowserve pumps division. “We are excited to be a part of this dynamic collaboration and look forward to the potential future opportunities this project could bring to Flowserve and our partners. As we gain momentum in our 3D Strategy to diversify, decarbonize and digitize, we are committed to fostering our strong existing customer base and enabling traditional end markets with our diverse flow control portfolio.”