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Aramco awards $18 billion in contracts to boost capacity at Marjan, Berri oilfields

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Aramco awards $18 billion in contracts to boost capacity at Marjan, Berri oilfields
FILE PHOTO: The logo of Saudi Aramco is seen at Aramco headquarters in Dhahran, Saudi Arabia May 23, 2018. REUTERS/Ahmed Jadallah/File Photo   -   Copyright  Ahmed Jadallah(Reuters)
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DUBAI (Reuters) – Saudi Aramco has awarded 34 contracts with a total value of $18 billion (£14.4 billion) for engineering, procurement and construction projects at its Marjan and Berri oilfields, the company said.

Aramco plans to boost production capacity at the two fields by 550,000 barrels per day of Arabian crude oil and 2.5 billion standard cubic feet a day of gas, the company said in a statement.

The company’s maximum sustained oil output capacity is currently 12 million barrels per day, the statement added.

Saudi companies account for 50 percent of the awarded contracts in a bidding process that involved more than 90 companies and institutions.

The offshore oilfield development project aims to increase the Marjan Field’s production by 300 thousand barrels of oil per day of Arabian Medium Crude Oil, process 2.5 for billion standard cubic feet per day of gas, and produce an additional 360 thousand barrels of oil per calendar day of ethane.

Aramco also plans to add 250,000 barrels of Arabian Light Crude per day from the offshore Berri oilfield.

(Reporting by Dahlia Nehme; Editing by Jan Harvey and Louise Heavens)

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