Aramco starts chase for Jafurah offshore project

摘要

SAUDI Aramco has kicked off the bid process for an offshore project that involves additional infrastructure for its giant Jafurah unconventional gas development. Multiple people with direct knowledge of the process told Upstream that Aramco recently issued tender documents to its select group of long-term agreement (LTA) contractors for work on the Jafurah condensate terminal, as a part of the field's development programme. The work has been offered to LTA players as contract release purchase order 86 (CRPO 86), one person said. "Bids are likely to be submitted on 21 November and Aramco is expected to finalise an award by the middle of next year," he added. Aramco has been spending between $1.5 billion and $2 billion each year on offshore brown-field and maintenance projects as a part of its LTA agreement, but expenditure nosedived last year because of the Covid-19 crisis. However, LTA spending this year is expected to rise on the back of higher crude prices and improved market fundamentals.