Aramco Awards $1 Billion Contract for Safaniya Offshore Increment Project

Aramco Awards $1 Billion Contract for Safaniya Offshore Increment Project
by Aswani

The renowned Saudi oil corporation Aramco has awarded a significant contract for the Safaniya offshore expansion project valued at $1 billion. This project includes engineering, procurement, construction, and installation (EPCI), among other things. According to DMS Projects, the contract was given to China Offshore Oil Engineering Co (COOEC). The building and installation of 13 offshore jackets are part of the EPCI activities for the Safaniya offshore increment project, which includes many bids.

The Safaniya oil field, which Saudi Aramco manages and runs, has a remarkable daily production potential of up to 1.3 million barrels of Arabian heavy crude oil. Despite the fact that project delays have an impact on the industry’s contracting operations, Aramco continues to be a major player, accounting for around 60% of topside contracts. This success is attributable to their ongoing support of offshore developments including Abu Safah, Manifa, Safaniya, and Zuluf.

The decision to award the EPCI contract for the Safaniya offshore increment project demonstrates Aramco’s dedication to advancing the growth of its oil fields and increasing its capacity for production. The initiative will benefit both the local and foreign contractors engaged in addition to helping the firm develop. Aramco’s strategic goal and partnerships with reputable businesses

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