Gulf Oil and Gas accountACCOUNT

Aramco Close to Awarding Gas Project Contract to Tecnicas Reunidas

Source: Reuters 11/7/2017, Location: Middle East

Share |
Saudi Aramco is close to awarding a contract to Spanish engineering group Tecnicas Reunidas, industry sources said. “TR received a letter of intent from Aramco,” said one of the sources.

Sources told Reuters last month that TR offered the lowest bids to build the gas compressor stations that will help boost gas supplies from Haradh and Hawiyah. The estimated bid value is about $2.3-2.4 billion, sources familiar with the matter said.

Tecnicas Reunidas has not yet signed the contract with Aramco. However, one of the sources said it was expected to do so in the following weeks.

Saudi Aramco did not respond to a request for comment, while no one at Tecnicas Reunidas could immediately be reached for comment.

Hawiyah and Haradh are part of Ghawar, the world’s largest onshore oilfield. Saudi Aramco plans to nearly double gas production to 23 billion standard cubic feet a day in the next decade as gas will play a key role towards a diversified energy mix.

Despite falling oil prices, Saudi Aramco is pushing ahead with energy projects that it has listed as a priority for the long term to keep the world well supplied with oil, while meeting domestic gas demand to fuel industrial growth.

Compressors, Gas >>

Compressors, Gas News in Saudi Arabia >>

Saudi Arabia >>  11/16/2017 - Saipem has been awarded a new contract in Onshore E&C. Activities involve engineering, procurement, construction and commissioning for the “Hawiyah Ga...
Kuwait >>  11/15/2017 - With a double-digit million euro volume, MAN Diesel & Turbo has won an order for nine compressor trains for the state-owned Kuwait Oil Company (KOC). ...

Saudi Arabia >>  11/14/2017 - Last week, the WTI benchmark rose $2 to more than US$57 per barrel — its highest level since mid-2015. While OPEC and other contributing non-OPEC memb...
Oman >>  11/9/2017 - Tethys Oil will be awarded a new exploration license by the Ministry of Oil and Gas of the Sultanate of Oman. Block 49 is an onshore block that covers...

Saudi Arabia >>  11/9/2017 - Saudi Aramco signed agreements with several oil and gas service contractors for oil and gas megaprojects designed to enhance the company’s energy sust...
United Arab Emirates >>  11/2/2017 - ABB AbilityTM Electrical Distribution Control System delivers key data to shape next-generation solar power for the city. ...

Related Categories: Compressors, Air  Compressors, Cylinders  Compressors, Gas  General 

Related Articles: Compressors, Air  Compressors, Cylinders  Compressors, Gas  General 


Saudi Arabia Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 |

More News

 

Oil & Gas Companies in Saudi Arabia >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.