Saudi Aramco has signed 34 contracts with Saudi and international companies for the implementation of projects for design, supply and construction, with the aim of raising the production of crude oil and gas from the fields of Morgan and Barri, With a total contract value of $ 18 billion.
“Saudi Aramco continues its global leadership in the oil and gas industry through the development and establishment of a giant and integrated program to increase oil production from the fields of Al-Morgan and Al Bari and the establishment of a large gas processing plant,” said Amine Hassan Al-Nasser, Saudi Aramco President.
The program is one of the main energy projects that implemented today in the world. It includes offshore and onshore facilities to produce 550,000 barrels of oil per day and a plant able to produce 2.5 billion standard cubic feet plant of natural gas, including the production of 360,000 barrels of ethane-rich gas and heavier components. “
“This capital investment, valued at $ 18 billion, represents a system of projects that greatly enhance Saudi Aramco’s capabilities and supports its long-term investment plans to meet world oil demand. In addition, the program contributes to the growth of production capacity which in turn contributes to the economic diversification of the Kingdom in the chemical industry and helps to improve the environment and raise the level of efficiency through increasing the use of gas in producing electricity and reducing the use of liquid fuel.
The winning companies have been committed to increase the volume of procurement of materials and equipment from national manufacturers to support national manufacturing and to raise local content to 70% by 2021
It is hoped that this system will generate thousands of direct and indirect jobs, mostly for the private sector in the engineering and construction sector, thus strengthening Saudi Aramco’s efforts to localize jobs and increase job opportunities.