US-Saudi Consortium Nears Final Site Selection for $5 Billion GCC Refinery and Export Hub

SEATTLE (Oil Monster): A US-Saudi investment group is moving closer to choosing the location for a major $5 billion refinery and energy export project in the Gulf Cooperation Council (GCC). A final decision expected before the end of the current year.

The project is being developed by MERA Oil, a consortium formed by MWG Enterprises LLC, Patel Family Office (PTO), and Saudi Arabia's AHQ Group through its Pipe & Well Services Co. (PWS).

After evaluating multiple locations across the Gulf region over the past three years, the consortium has narrowed its search to three shortlisted GCC sites situated outside the Strait of Hormuz. MERA Oil, however, said it remains open to considering another GCC proposal if it offers greater strategic advantages.

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The first phase of the project includes construction of a 200,000-barrel-per-day refinery, a deepwater export terminal, and extensive crude oil and refined fuel storage facilities. The preparatory studies are already at an advanced stage. Once the host country is finalized, the consortium plans to begin detailed engineering and site development.

If all approvals are secured, mechanical completion of the first phase is anticipated by the end of 2029, followed by commissioning and commercial operations. The refinery is expected to produce ultra-low-sulfur diesel and jet fuel for export to various regional markets.

The project is estimated to create up to 3,000 direct jobs and approximately 15,000 indirect employment opportunities during the construction and operations phase.