SAUDI Ararhco has awarded Italy's Saipem a key offshore engineering, procurement, construction and installation contract as it steps up spending on brownfield and offshore maintenance projects. Aramco, which aims to expand its oil production capacity to a sustainable high of 13 million barrels per day by 2027, is also spending heavily on maintenance contracts aimed at sustaining oil production from some of the largest offshore oilfields in the kingdom. The contract awarded to Saipem provides for life extension and additional development of the Abu Safah offshore oilfield, according to industry sources. More than two dozen offshore deals involving Aramco's long-term agreement (LTA) arrangement are up for grabs, aimed at rejuvenating oil and gas production from the country's maturing oilfields.
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