LNG

July 15 (LNGJ) - Saipem, the Italian energy and LNG engineering company specialising in subsea work, has been awarded two offshore projects in Saudi Arabia under an existing long-term agreement with Saudi Aramco. “The overall contract amount of the two projects is approximately $500 million,” said Saipem.

   “Saipem’s scope of work under the first project involves the engineering, procurement, construction and installation (EPCI) of a crude trunkline of 50 kilometres with a diameter of 42 inches for the Abu Safa field, while the activities related to the second project involve the production maintenance programs of the Berri and Manifa fields,” the company added.

Saudi Arabian Oil Company (Saudi Aramco), the largest oil exporter, plans to increase natural gas output by 60 percent to take advantage of its massive associated gas in oil fields all well as huge shale-gas reserves as Western nations stall new gas production.

Production companies seeking efficient and cost-effective methods of increasing their output are forecast to increase spending by almost 20 percent in 2023 to total $58 billion for additional oil and natural gas resources to satisfy global demand for energy such as LNG and pipeline gas and for necessary activities like petroleum refining and chemicals production to make products such as pharmaceuticals.

Saudi Arabia and Kuwait have been pushing their claim in recent days to the offshore Durra natural gas field in the Arabian Gulf that is also being claimed by Iran and the Iranians have threatened to move in now and start drilling.

McDermott, the US LNG project engineering and oil and gas developer, has been awarded three prestigious contracts by the Saudi Arabian Oil Company (Aramco) covering four oil and natural gas fields in the Arabian Gulf.