Saudi Aramco, the world’s biggest oil producer, signed on November 9, 2017, $4.5 billion worth of agreements with several oil and gas service contractors for mega energy projects designed to enhance the company’s energy sustainability, diversify the economy, expand gas production and localise domestic content.
The companies that won the 8 contracts include Spain’s Técnicas Reunidas, Italy’s Snamprogetti, China Petroleum Pipelines Company, Abu Dhabi-based National Petroleum Construction Company, McDermott Middle East and US-based Jacobs Engineering.
The projects will help boost the kingdom’s gas production by about 1 billion standard cubic feet per day (scfd), Saudi Aramco reported.
«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,» said Amin Nasser, CEO of Saudi Aramco.
«Investments like these help secure Saudi Aramco’s preeminent position as a reliable supplier of energy domestically and to the world. 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», Nasser noted.