Saudi Arabia Dishes Out $4.5B Contracts In A Bid To Increase Gas Production
Saudi Aramco said on Thursday that the agreements,Â valued at nearly $4.5 billion in total, wereÂ designed to enhance the companyâ€™s energy sustainability, diversify the economy, expand gas production, and localize domestic content.
Eight agreements were signed, including three agreements with Madrid-based TĂ©cnicas Reunidas under the Gas Compression Program in the Southern Area. The project will improve and sustain gas production from Haradh and Hawiyah fields for the next 20 years by bringing an additional 1 billion standard cubic feet per day (scfd). The Hawiyah Gas Plant (HGP) Expansion Project will provide additional gas processing facilities to process raw sweet gas, to efficiently meet the Kingdomâ€™s energy demand. The contract will be awarded to the Italian firm SNAMPROGETTI (Saipem).
Other agreements signed on Thursday cover the Free Flow Pipeline Contract for Haradh and Hawiyah (with China Petroleum Pipelines Company); engineering and project management services for the Zuluf Field Development Program (with Jacobs Engineering Inc.); the Pipeline and Trunk line Project of Safaniyah Field (with Abu Dhabi-based National Petroleum Construction Company (NPCC); and the Slipover Platforms and Electrical Distribution Platform Project in Safaniyah Field (with McDermott Middle East).
Saudi Aramco President and CEO, Amin H. Nasser, said: â€śThese agreements we signed are part of our natural gas expansion, as we add about 1 billion standard cubic feet per day (scfd). This reflects our commitment to introducing new supplies of clean-burning natural gas. 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.â€ť