Saudi Aramco awards contracts valued at $18billion

Contractors required to maximize procurement of material and equipment from local suppliers and manufacturers

Share
A total of 34 contracts will cover works on the Marjan and Berri increment programs
SUPPLIED IMAGE
A total of 34 contracts will cover works on the Marjan and Berri increment programs

Engineering, procurement and construction contracts worth US$18billion have been issued by Saudi Aramco – with 50% going to Saudi-based companies. 

A total of 34 contracts will cover works on the Marjan and Berri increment programs.

Related

The company plans to boost the Marjan and Berri fields’ production capacity by 550,000 barrels per day of Arabian Crude Oil and 2.5billion standard cubic feet a day of gas.

More than 90 companies and institutions were invited to bid on the packages.

Contractors working on the projects are required to maximize the procurement of material and equipment from local suppliers and manufacturers to help achieve Saudi Aramco’s In-Kingdom Total Value Add Program goals, which aim to increase the company’s locally-sourced goods and services to 70% by 2021.

“These two programs will significantly enhance Saudi Aramco’s oil production and gas processing capabilities, both strengthening our position as the leading integrated energy supplier and meeting growing long-term demand for petroleum,” said Amin H. Nasser, President and CEO of Saudi Aramco.

“These investments will support our continued focus on employing best-in-class technologies, well completion, and reservoir management practices.

“It will enable Saudi Aramco to further reduce the carbon intensity of our crude oils, supporting our strategy of reducing emissions while providing energy to those who need it.”

Most Popular

Sign up for Newsletter

Digital Edition

Read The Edition Here