Fossil Energy – Safaniyah Oilfield
A leading Chinese engineering, procurement, construction and installation contractor has landed a key offshore contract from Saudi Aramco for the further expansion of its giant Safaniyah oilfield.
The Saudi state-giant is spending billions of dollars to boost the capacity of its offshore fields and has finalised multiple EPCI deals in recent weeks, as a part of its long-term agreement (LTA) arrangement with international contracting giants.
The latest, covering 13 offshore platform jackets on the Safaniyah field, is valued between $240 million to $260 million, according to the Upstream e-paper.
Safaniyah, the world’s largest offshore oilfield, is at the heart of Aramco’s capacity expansion programme.
The Saudi giant wants to reach an oil production capacity of 13 million barrels per day with its domestic assets by 2027, up from the existing 12 million bpd.
Safaniyah holds 37 billion barrels of oil in place and currently produces 1.3 million bpd of oil, according to Aramco. The expansion plan aims for a significant increase in this output, although Aramco has not said how much.
The oilfield is located about 200 kilometres north of Dhahran and began producing in 1957.
