Sapura Energy confirms Saudi Aramco LTA

Malaysia’s Sapura Energy has confirmed its subsidiaries Sapura Fabrication Sdn Bhd and Sapura Saudi Arabia, were selected to join Saudi Aramco’s Long-Term Agreement (LTA) programme.

(L-R) Tan Sri Shahril Shahmsuddin, President and Group CEO, Sapura Energy; HRH Prince Ahmed bin Fahad, Deputy Governor of the Eastern Province; HRH Prince Saud bin Nayef, Governor of the Eastern Province; Amin H. Nasser, President and CEO, Saudi Aramco, at the signing event held in Dammam, Saudi Arabia.

Saudi Aramco earlier this week said it had signed $27.5 billion worth of deals with various oilfield services suppliers, drillers, helicopter operators, fabricators,  during its 4th IKTVA Forum & Exhibition this week at the Dhahran Expo Center in Dammam.

This has now been confirmed by Sapura Energy, which on Wednesday said its LTA program with Saudi Aramco covers engineering, procurement, fabrication, transportation, and installation (EPCI) contracts to support Saudi Aramco’s offshore projects.

“Joining the major league of international service providers as an LTA contractor, Sapura Energy will participate in bids for EPCI opportunities by Saudi Aramco. The LTA program will be for a period of six years with options for extension,” Sapura Energy said.

“We are honored to be selected by Saudi Aramco for its LTA program. This win is a major milestone for Sapura Energy in line with our strategy to grow the business and deepen our presence in the Middle East,” said Shahril Shamsuddin, President, and Group Chief Executive Officer, Sapura Energy.

A key component of the LTA is Saudi Aramco’s In-Kingdom Total Value Add (IKTVA) program which aims to drive local value creation with the LTA contractors.

“Sapura Energy is taking proactive steps to fulfill its IKTVA commitments by partnering local businesses and developing local capabilities by leveraging on its in-house technical and project management expertise as well as its world-class fleet of offshore construction assets,” the company said.

While Sapura Energy did not provide any concrete numbers when it comes to the value of the potential contract awards that could be signed with Saudi Aramco, Offshore Energy Today on Monday reported on Boskalis and Lamprell signing a long-term agreement with Saudi Aramco, which should bring in “multiple hundred millions of euros.”

During an event earlier this week, Saudi Aramco signed agreements with offshore oil and gas specialists such as Shelf Drilling, TechnipFMC, ABB, Schlumberger, Baker Hughes, Airbus, Sapura Fabrication, and Ensco.

Offshore Energy Today staff

Share this article

Follow Offshore Energy Today

Events>

<< May 2019 >>
MTWTFSS
29 30 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

08th OIL & GAS AFRICA 2019 CONFERENCE

OIL & GAS AFRICA is one of the most prime regional & international Oil and Gas conferences in East Africa…

read more >

FPSO Brazil Congress 2019

Charging ahead with 24 planned orders by 2022, Brazil has once again solidified its status as one of the world’s foremost oil and gas leaders…

read more >

OWI WA 2019

West Africa’s only dedicated Offshore Well Intervention Conference is returning for its second year…

read more >

OIL & GAS PHILIPPINES 2019

Oil & Gas Philippines event display products like Oil & gas, fire protection systems and materials…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply