Saudi Aramco in deals worth $4.5 bln

Saudi Arabia

DHAHRAN, November 10, 2017 – Saudi Aramco has signed oil and gas service deals worth about USD 4.5 billion in total, the Saudi oil giant announced on Thursday.


“These agreements… [reflect] our commitment to introducing new supplies of clean-burning natural gas,” said Aramco’s CEO, Amin Nasser, in a statement. “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.”

Eight separate deals were sealed with Saipem, Técnicas Reunidas, McDermott, Jacobs Engineering, Abu Dhabi’s National Petroleum Construction and China Petroleum Pipeline, the press statement added without specifying the amounts of the individual awards.

Técnicas Reunidas is to increase gas production from the Haradh and Hawiyah fields by 28.3 mcm (1 bcf) per day while Saipem will be in charge of the expansion project at the Hawiyah gas plant. Other contracts cover engineering works on several pipelines and on the Zuluf and Safaniyah fields.

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