Compelo Energy - Latest industry news and analysis is using cookies

We use them to give you the best experience. If you continue using our website, we'll assume that you are happy to receive all cookies on this website.

ContinueLearn More

Saudi Aramco signs $4.5bn deals for oil and gas projects

Saudi Aramco signed eight agreements worth $4.5bn with oil and gas service contractors, mainly to enhance gas production.

The firm has signed three agreements with Madrid-based Técnicas Reunidas for a gas compression program, which aims to improve production from the Haradh and Hawiyah fields.

Over the next 20 years, the scheme aims to produce an additional 1 billion standard cubic feet per day (scfd) from the two fields.

Saudi Aramco president and CEO Amin Nasser said: “These agreements we signed are part of our natural gas expansion, as we add about 1 billion standard cubic feet per day (scfd).

“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.”

Aramco said that the contract for Hawiyah gas plant (HGP) expansion project will be awarded to Italian firm Saipem. The project involves installation of additional processing facilities to process raw sweet gas.

China Petroleum Pipelines Company has been contracted by the Saudi firm for Free Flow Pipeline project for Haradh and Hawiyah fields.

A deal for engineering and project management services for the Zuluf Field Development Program has been signed with Jacobs Engineering.

Additionally, Aramco signed a deal with Abu Dhabi-based National Petroleum Construction Company (NPCC) for the pipeline and trunk line project for the Safaniyah Field.

Another deal was signed with McDermott Middle East for engineering, procurement, construction and installation of 10 new Slipover Platforms in the South Safaniya Field to enhance oil production.

Nasser added: “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.”

Image: Saudi Aramco signed eight agreements with oil and gas service contractors. Photo: courtesy of Saudi Arabian Oil Co.