Saudi Aramco awards US$18bn oil field contracts
10 July, 2019
Saudi Arabia’s state-owned oil giant Saudi Aramco has awarded US$18bn (£14.4bn) worth of contracts to boost capacity at two offshore oil and gas fields.
A combined 550,000 barrels per day of crude production capacity will be added at its Marjan and Berri oil fields.
It will also increase capacity for natural gas output by 25bn cubic feet per day.
Aramco awarded 34 contracts, with half going to Saudi firms. Italy’s Saipem won two new engineering and construction contracts for more than US$3.5bn, according to the company (£2.8bn).
Saipem’s Onshore E&C unit will develop the land facilities tied to the two fields in the Arabian Gulf.
Other winners in the round of contract awards included McDermott International, Subsea 7, Técnicas Reunidas, China Petroleum & Chemical Corp, Larsen & Toubro and Hyundai Engineering & Construction Co.