Saudi Aramco has awarded eight Long-Term Agreements (LTA) for oil and gas brownfield and plant upgrade projects. Under the six-year LTAs, the eight companies and consortia will be automatically shortlisted for such projects. The LTAs were awarded to a consortium of local firm Nasser Saeed Al-Hajri and Korea’s Samsung; the Saudi Arabia affiliates of two further Korean firms, Daelim Saudi Arabia; and GS Construction Arabia; the local branch of Japan’s JGC (JGC Gulf Engineering); Egypt state firm Enppi; Italy’s Saipem (MEES, 20 November); Paris-based Technip; and a final Korean firm, Hyundai.
Aramco highlights that the LTAs will boost its In-Kingdom Total Value Add (IKTVA) program. Contractors will have to meet an initial minimum commitment to use 39% local content and supply chains, rising to 60% within the six-year timeframe. (CONTINUED - 168 WORDS)