Saudi Aramco, the world’s largest oil exporter, has awarded a trio of offshore engineering, procurement, construction and installation contracts to a leading international consortium — continuing investments in its long-term agreement (LTA) contracting framework.
The Saudi state giant is pumping in billions of dollars to maintain the production profile of some of the largest offshore oilfields in the country, while also spending aggressively on big-ticket greenfield developments to swiftly scale up its oil production capacity.
Aramco has highlighted its intent to scale up this capacity to 13 million barrels per day by 2027, from the current 12 million bpd.
