Saudi Aramco’s Offshore Projects Department has recently awarded a fifth long-term agreement (LTA) to National Petroleum Construction Company (NPCC) of Abu Dhabi for the execution of its world-class offshore development program.
The LTA was signed by Saudi Aramco Project Management Executive Director Tofiq Gabsani and Aqeel Madhi, CEO of NPCC. Under the LTA, the contractors will be entrusted with the responsibility to deliver a huge number of offshore oil and gas producing platforms, tie-in platforms, pipelines, power cables, and all the related facilities required under the current Master Plan for Saudi Aramco’s offshore fields.
Commenting on the milestone of awarding the high impact agreement, Ahmad Al Saadi, Senior Vice President of Saudi Aramco’s Technical Services, said, “This fifth strategic LTA is needed for the successful execution of the complex and extensive offshore projects to be completed in the offshore oil & gas fields in the Arabian Gulf—all within an aggressive schedule”. He also underlined the importance of local procurement and working with local companies, contractors and employing Saudis as outlined in the Company’s In-Kingdom Total Value Add (IKTVA) program.
It must be noted here that the LTA contracts have a fixed duration of six years with options to be extended for up to twelve years.