Saudi Aramco Dishes Out $2.2B Zuluf Field Deal
Saudi Arabian giant Saudi Aramco has awarded a $2.2 billion contract to UAE’s National Petroleum Construction Company (NPCC) for a project located offshore Saudi Arabia.
NPCC – a wholly-owned subsidiary of the National Marine Dredging Company (NMDC) – secured the $2.2 billion Saudi Aramco deal for two packages for the Zuluf offshore field.
NMDC stated in a brief statement published on the Abu Dhabi Securities Exchange that the project would be executed over three years. The company revealed no other details regarding the deal.
In recent times, NPCC has been winning billions of dollars in contracts with different companies. Apart from this latest deal, the company won another $1.26 billion in two deals with the Abu Dhabi National Oil Company (ADNOC) during 2021.
The first deal was agreed on in late May 2021. ADNOC awarded a $744 million contract for the full field development of the Belbazem Offshore Block.
Namely, the scope of the award covers engineering, procurement, construction, and commissioning activities for the offshore facilities required to enable a full production capacity of 45,000 barrels per day of light crude and 27 million standard cubic feet per day of associated gas from Belbazem. First oil from the asset is expected in 2023.
The Belbazem Block, located 74 miles northwest of Abu Dhabi city, consists of three marginal offshore fields – Belbazem, Umm Al Salsal, and Umm Al Dholou. ADNOC and CNPC hold 60 percent and 40 percent stakes in the company that operates the block.
The second deal relates to ADNOC awarding an EPC contract worth $514 million for the Dalma gas development project to NPCC in mid-November of last year. NPCC’s Dalma deal covers the EPC of four offshore wellhead towers, pipelines, and umbilicals in Hair Dalma, Satah, and Bu Haseer fields.
Dalma is part of the Ghasha Concession – the world’s largest offshore sour gas development – which is an important enabler of gas self-sufficiency for the UAE.
As for Saudi Aramco, it awarded three new deals for engineering, procurement, construction, and installation (EPCI) projects to McDermott last month.
McDermott said it will provide the EPCI of four drilling jackets and seven oil production deck modules in Saudi Arabia’s Zuluf, Ribyan, Abu Sa’fah, and Safaniya fields located offshore in the Arabian Gulf.
In addition to the seven modules and four drilling jackets, the scope of work for the deals includes the EPCI of more than 28 miles of pipelines, 62 miles of subsea cables, and tie-in works to existing facilities.
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