Saudi Arabia’s state-run oil company Aramco is expected to announce the engineering, procurement and construction (EPC) contractors for its 11 oil and gas field development projects in January at the earliest.

Saudi Aramco plans to sign the EPC contracts on the 11 oil and gas field projects, including offshore oil fields, from January to February, according to Korean media outlets.

The 11 oil and gas fields include Abu Safah, Manifa, Zuluf, Marjan, Hasbah and Safaniyah fields.

As companies participating in the long-term agreement (LTA) program are expected to win the projects, Korea Shipbuilding & Offshore Engineering (KSOE) is highly likely to win some of the orders, experts say.

Aramco is expected to sign LTA contracts with KSOE, Sapura Energy of Malaysia, Lamprell of the United Kingdom, McDermott International of the United States, Saiphem of Italy, Abu Dhabi National Oil Co. of the UAE, and CNOOC of China.

KSOE is operating International Maritime Industries (IMI) in Saudi Arabia, a shipyard established jointly with Lamprell, Saudi Aramco and Bahri, a transportation and logistics company in Saudi Arabia.

Source: BusinessKorea