News

Aramco awards EPC contract for world’s largest offshore field

Aramco has awarded an engineering, procurement, construction and installation (EPCI) contract for its $1 billion Safaniya offshore increment project to China Offshore Oil Engineering Co (COOEC), according to data from DMS Projects.

The EPCI works on the Safaniya offshore increment project, which was divided into 10 tenders, includes 13 offshore jackets that will be built in Qingdao city in Shangdong province.

According to media reports, COOEC expects project delivery in July 2024.

The Safaniya oil field located in the Arabian Gulf in Saudi Arabia is the world’s biggest conventional offshore oil field both by recoverable reserves and production capacity.

Owned and operated by Saudi Aramco, the giant offshore field is capable of producing up to 1.3 million barrels of Arabian heavy crude a day

Despite project delays slowing down contacting activity, Aramco is expected to account for about 60% of the topsides contracts, driven by continued investment in the offshore Abu Safah, Manifa, Safaniya and Zuluf projects