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MEOG ProJeCts & ComPanIes MEOG
Target wins Aramco EPC gig
sauDI arabIa
TARGET Engineering Construction Co. announced this week that it had been awarded a $75mn engineering, procurement and con- struction (EPC) contract by Saudi Aramco for the upgrade of a facility in the kingdom.
The contract will see the Arabtec subsidiary upgrade of a produced water disposal facility at Qatif ’s gas oil separation plant (GOSP-1) in East- ern Province.
This includes the installation of a water oil separation vessel, water disposal pumps, water injection pumps, low-pressure de-gassing tank water draw-off pumps as well as a pipeline to transfer oily water GOSP-1 from the Juaymah Terminal.
Arabtec CEO, Peter Pollard said: “We are pleased that Target has been awarded another project in the Kingdom of Saudi Arabia strength- ening our longstanding relationship with Saudi Aramco.”
he added: “This award adds to our pipeline of projects in the industrial infrastructure sector, consistent with our strategic priority to diversify our backlog.”
It has been a busy summer of contracting for Aramco, which the company will be hopeful of bringing significant positive news in the wake of the recent attacks at Abqaiq and Khurais.
In early September, Oslo-listed Subsea 7 announced that it had been awarded work under highly-attractive long-term agreements (LTAs),
of which it is a signatory in consortium with India’s Larsen & Toubro.
The deal entails EPC and installation (EPCI) for 28 jackets, of which, eight new jackets will be installed in the Marjan and Zuluf fields, 10 are for the Safaniya and Zuluf fields and a further 10 for the Zuluf and Ribyan fields. The contract also includes scope for a pipeline decommissioning for Safaniya and Zuluf.
Subsea 7 said that the work would begin immediately, with offshore execution to come in 2020, noting that the contract was worth $50mn-150mn net to the norwegian firm.
Meanwhile, Upstream reported that several EPC contractors were likely to compete for a multi-billion dollar deal to expand the Uthmani- yah and Shedgum gas plants. It quoted sources as saying that pre-qualified EPC contractors had already received tender documents, with LTA signatories likely to be involved.
The original group of Aramco’s LTA contrac- tors was made up of Dynamic Industries and McDermott, both of the US, L&T with Subsea 7, Abu Dhabi state-backed national Petroleum Construction Co. (nnPC) and Saipem. how- ever, after a lengthy bidding process, COOEC, UAE-based Lamprell with Boskalis of the netherlands, Malaysia’s Sapura Energy, and UK-based TechnipFMC with Malaysia Marine & heavy Engineering were brought into the LTA stable in December 2018.™
PrICes
Date
WTI (US$)
ICE Brent (US$)
DME Oman (US$)
OPEC Basket (US$)
01 September
53.62
58.89
58.70
59.65
02 September
52.64
57.69
57.90
58.72
03 September
52.45
57.71
57.99
57.96
04 September
52.81
58.37
58.75
58.59
07 September
52.75
58.35
58.69
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Week 40 08•October•2019 w w w . N E W S B A S E . c o m P11