Saudi Aramco set to issue tenders for oilfields expansion

Saudi Arabian Oil Co. (Saudi Aramco) is expected to launch in July a tender to build facilities as part of its Marjan oilfield expansion plans, Reuters reported, citing industry sources. Another tender for the Berri oilfield expansion is expected towards the end of this year.

International engineering and construction firms have expressed interest in bidding to build the facilities at Marjan oilfield, where the expected cost of development is more than $10 billion.

The expansion will increase the capacity of Marjan by 300,000 barrels per day (bpd) of Arab medium crude from the current 500,000 bpd.

Meanwhile, the Berri oilfield expansion could cost between $6 billion and $8 billion, with plans to increase the capacity by 250,000 bpd of Arab light and raise production of associated gas.

The construction packages for Marjan and Berri are expected to be awarded next year and both projects are expected to be completed in 2022.