Saudi Aramco is set to award a series of key offshore contracts worth more than $2 billion to three of its existing long-term agreement contractors as it pushes ahead with crucial investments despite sustained lower oil prices.
Multiple sources told Upstream that the Saudi Arabian giant has issued letters of intent to a partnership of Indian company Larsen & Toubro (L&T) and Singapore’s Emas, to US giant McDermott and to Italy’s Saipem, though it could take another month or two for final contracts to be signed.
The
