MEOG: Aramco makes offshore oil award

Saudi Aramco has reportedly granted a significant maintenance contract to Italian engineering firm Saipem, showcasing its commitment to offshore maintenance projects. This decision comes despite the recent halt in the company’s oil production capacity expansion plans.

According to Upstream, contract release purchase order (CRPO) 143, covering engineering, procurement, construction and installation (EPCI) and maintenance work, has been handed to Saipem. The deal covers the installation of various segments of subsea pipelines at the Berri and Marjan oilfields. Sources told Upstream that the EPC scope was moderately sized yet essential for these prominent offshore fields.

Apart from the Saipem project, multiple other tenders – CRPO 132, CRPO 139, CRPO 142, and CRPO 1441 – were presented to LTA contenders earlier this year and are progressing, albeit at a slower pace. Sources have indicated that these offshore maintenance contracts are expected to be finalised soon.

Aramco recently put a pause on various ongoing offshore bids worth billions of dollars, primarily aimed at enhancing the production profile of its Zuluf and Marjan fields.