JAPANESE engineering titan JGC is in the frame to win two sizeable onshore engineering, procurement and construction contracts from Saudi Aramco involving its Zuluf oilfield, a promising incremental project in the Persian Gulf. Several people familiar with the development told Upstream that Aramco recently handed over letters of intent for the two onshore EPC packages understood to be worth between $2 billion and $2.5 billion jointly. The Zuluf expansion is a key element of Saudi Arabia's strategy to increase its crude production capacity to 13 million barrels per day and maintain its position as the world's largest crude exporter. "JGC is in receipt of the LoI's and a formal announcement is yet to be made by Aramco," one source said.
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