Saudi Aramco prequalifies six contractors for Safaniya oilfield redevelopment phase 7
The $800-million redevelopment project of Safaniya oilfield, which holds an estimated 37 billion barrels of crude, is expected to finish in October 2020.
Saudi Aramco has prequalified six contractors for phase 7 of the redevelopment of Safaniya oilfield in the Persian Gulf of Saudi Arabia.
Saudi Arabian Saipem, National Petroleum Construction Company, Norway's Subsea 7, L&T Hydrocarbon Engineering, McDermott and Dynamic Industries Saudi Arabia were shortlisted for the project, which has a pricetag between $700 million and $800 million.
This is one of many projects by Saudi Aramco to expand aging oilfields; Safaniya has been in production since 1957. The expansion and redevelopment aim to raise sustainable oil output while adding gas-processing capacity.
Safaniya oilfield is estimated to hold 37 billion barrels of crude and has a production capacity of between 1 million and 1.5 million barrels of heavy crude oil per day.
The main contractor award is expected to be given in October 2018, with completion of the project expected in October 2020.