Saturday, July 12, 2025

Saudi Aramco Nears Bidding Phase for Major Offshore Deals

by Oilspot Suriname
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At least four significant offshore expansion contracts from Saudi Aramco are approaching the critical bidding stage, with top international contractors expected to submit offers within the next week or two. These contractors are all part of Aramco’s long-term agreement (LTA) framework, which governs much of the company’s offshore development work.

Under the LTA regime, Aramco consistently awards engineering, procurement, construction, and installation (EPCI) contracts valued between $2 billion and $3 billion annually. These projects are crucial for the ongoing maintenance and development of Aramco’s extensive offshore oil and gas fields.

Although greenfield projects in Saudi Arabia have slowed following Aramco’s decision last year to halt the expansion of its oil production capacity at 12 million barrels per day, there is still a healthy pipeline of EPCI opportunities. The upcoming contracts primarily focus on maintaining existing production capacity and progressing with previously announced offshore expansion initiatives.

The forthcoming bidding process signals Aramco’s continued commitment to sustaining and optimizing its offshore operations, even amid broader shifts in the country’s energy strategy.

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