Saudi Aramco announced on Tuesday that it has awarded 34 contracts with a total value of $18 billion for the engineering, procurement and construction of the Marjan and Berri increment programs.
The company revealed its plans to increase the Marjan and Berri fields’ production capacity by 550,000 barrels per day of Arabian Crude Oil and 2.5 billion standard cubic feet a day (BSCFD) of gas.
“These two programs will significantly enhance Saudi Aramco’s oil production and gas processing capabilities, both strengthening our position as the leading integrated energy supplier and meeting growing long-term demand for petroleum,” said Amin H. Nasser, president and CEO of Saudi Aramco.
“These investments will support our continued focus on employing best-in-class technologies, well completion, and reservoir management practices. It will enable Saudi Aramco to further reduce the carbon intensity of our crude oils, supporting our strategy of reducing emissions while providing energy to those who need it,” he added.
Saudi companies make up 50 percent of the awarded contracts and they are high- caliber firms that have proven their ability to handle complex projects.
Contractors working on these projects are required to maximize the procurement of material and equipment from local suppliers and manufacturers to help achieve
According to the company, the projects are expected to create thousands of direct and indirect jobs, supporting Saudi Aramco's efforts to localize and create new job opportunities.
The Marjan increment program is an integrated development project for oil, associated gas, non-associated gas and cap gas from the Marjan offshore field.
Meanwhile, through the Berri increment program, the company plans to add 250,000 barrels of Arabian Light Crude per day from the offshore oilfield.
