Saudi Aramco signs $4.5bn contracts for mega oil and gas projects
Saudi Aramco signed eight agreements with service contractors for oil and gas mega projects.
Saudi Aramco recently signed agreements with several oil and gas service contractors for oil and gas mega projects designed to enhance the company’s energy sustainability, diversify the economy, expand gas production, and localise domestic content.
The agreements are valued at nearly $4.5bn in total. Eight agreements were signed, including three agreements with Madrid-based Técnicas Reunidas under the gas compression programme in the southern area.
The project will improve and sustain gas production from Haradh and Hawiyah fields for the next 20 years by bringing an additional one billion standard cubic feet per day (scfd). The Hawiyah gas plant expansion project will provide additional gas processing facilities to process raw sweet gas, to efficiently meet the Kingdom’s energy demand. The contract will be awarded to the Italian firm SNAMPROGETTI (Saipem).
Other agreements signed cover the free flow pipeline contract for Haradh and Hawiyah (with China Petroleum Pipelines Company); engineering and project management services for the Zuluf field development programme (with Jacobs Engineering Inc.); the pipeline and trunk line project of Safaniyah field (with Abu Dhabi-based National Petroleum Construction Company); and the slipover platforms and electrical distribution platform project in Safaniyah field (with McDermott Middle East).
Amin H Nasser, president and CEO, Saudi Aramco, said: “These agreements we signed are part of our natural gas expansion, as we add about one billion scfd. This reflects our commitment to introducing new supplies of clean-burning natural gas.
These new supplies will help reduce domestic reliance on liquid fuels for power generation, enable increased liquids exports, provide feedstock to petrochemical industries, and reduce carbon emissions.”
Nasser added: “Investments like these help secure Saudi Aramco’s pre-eminent position as a reliable supplier of energy domestically and to the world.
They also reflect our concerted effort, as stated in Saudi Vision 2030, to diversify our economy, promote local manufacturing, support a sustainable environment, and strengthen our business and investment climate with the domestic private sector through fruitful international partnerships.”
by Martin Menachery , photo copyright Arabianoilandgas.com