Saudi Aramco Relaunches Tenders for $10B Manifa Oil Project

DUBAI (Dow Jones Newswires), November 17, 2008

Saudi Arabian Oil Co., Aramco will again invite companies to bid for contracts to develop the Manifa oilfield after it canceled a contract with Snamprogetti, Saudi-based Al Riyadh daily reports Monday.

Aramco decided to re-launch its major projects after the decline in raw materials prices, including steel, cement by 40%, the paper reports, citing a contractor.

The project is part of the estimated $10 billion Manifa development program, Aramco's largest-ever offshore project and aims to add 900,000 b/d of Arabian Heavy crude production by mid-2011.

Snamprogetti, part Saipem will be invited to bid again for the project along with Bechtel, Technip and Foster Wheeler.  

Copyright (c) 2008 Dow Jones & Company, Inc.

Company: Saudi Aramco more info
Operates 45 Offshore Rigs
 - Aramco Said to Get Cool Response on IPO From US Investors (Mar 16)
 - The Next Entrant in the Shale Revolution? OPEC's Saudi Arabia (Mar 07)
 - Saudi Aramco CEO: Global Oil Sector Needs $20T Investments Over 25 Years (Mar 06)
Company: Saipem more info
Manages 13 Offshore Rigs
 - Executives: Algeria's Sonatrach, Italy's Saipem Agree To End Disputes (Feb 14)
 - Sanction-Proof Oil Rig Beats US Policy From Cuba to Russia (Dec 19)
 - Ifax: Saipem To Conduct Feasibility Study On Rosneft Chemical Plant (Sep 15)
Company: Bechtel Corporation more info
 - Bechtel to Complete Building the Last 2 LNG Trains on Curtis Island in 2016 (Jan 12)
 - Wood Group Wins Bechtel Contract to Supply Tengiz Project in Kazakhstan (Oct 07)
 - EnQuest Appoints New Non-Executive Director (Jun 25)
Company: Technip more info
 - Sasol Plans More Hiring for Louisiana Project (Oct 12)
 - Bapco To Meet Technip-Led Consortium For Talks On Refinery Expansion (Aug 22)
 - Fluor Wins Malaysia Isononanol Plant Contract (Aug 07)
Company: Snamprogetti more info
 - Saudi Aramco Relaunches Tenders for $10B Manifa Oil Project (Nov 17)
 - Tenders Launched for $10B Abu Dhabi Sour Gas Development (Oct 13)
 - KBR Completes Nigeria LNG Train Six Construction (Jan 08)
Company: Foster Wheeler more info
 - WorleyParsons and JV Partners Win FEED Contract for LNG Canada Project (May 21)
 - Amec Agrees to buy Foster Wheeler for $3B (Jan 13)
 - Report: British Engineer Amec Eyeing Foster Wheeler Takeover (Nov 27)