Saudi Aramco Inks $4.5B in Deals

Saudi Aramco Inks $4.5B in Deals

The state-run Saudi Aramco signed $4.5 billion in deals with international companies, Reuters reports.

The agreements are with companies from China, Europe, the UAE, and the US, according to according to Reuters, and are primarily focused on increasing gas production.

The company is looking it increase its natural gas production to 23 billion cubic feet per day (bcf/d), Reuters reports.

Saudi Aramco is planning to increase capital expenditures by almost 10% next year, Ahmad El Sa’adi, Saudi Aramco’s Senior Vice President of Technical Affairs, said last week, according to Reuters.

Tecnicas Reunidas won the contract for the construction of natural gas facilities at Hawiyah and Haradh, the news agency reports. It had previously reported that the Spanish firm had submitted the lowest bid for the project.

Saipem also won a contract, reportedly worth $700 million, for work at the existing gas processing facility at Hawiyah, according to Reuters .

A contract for a 450-kilometer natural gas pipeline between Hawiyah and Haradh was awarded to China Petroleum Pipelines, the news agency reports.

Among the oil contracts signed, Saudi Aramco granted a contract for engineering services and project management to Jacobs Engineering. The contract is for a 600,000-barrels-per-day (b/d) processing plant at the Zuluf field, Reuters reports.


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