Saudi Aramco's Offshore Projects Department 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. In June 2015, four LTA contracts were awarded to internationally renowned Engineering, Procurement, Fabrication and Offshore installation (EPIC) contractors.
The LTA was signed by Saudi Aramco Project Management Executive Director Tofiq Gabsani and Aqeel Madhi, CEO of NPCC.
Under the LTAs, 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. The LTA contracts have a fixed duration of six years with options to be extended for up to twelve years in total.
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.
Aqeel Madhi, CEO of NPCC said “It is a great honor and a great opportunity to be part of the LTA for Saudi Aramco’s offshore projects. We consider Saudi Aramco a strategic partner for us, and will spare no effort to ensure we meet the expectations of Saudi Aramco in terms of performance, quality and adherence to delivery schedule considering that NPCC have a good record in providing services according to the highest standards and foremost to achieve the aspirations of the IKTVA program”.
About Saudi Aramco:
Saudi Aramco is a world leader in integrated energy and chemicals. We are driven by the core belief that energy is opportunity. From producing approximately one in every eight barrels of the world’s crude oil supply to developing new energy technologies, our global team is dedicated to creating positive impact in all that we do. We focus on making our resources more sustainable and more useful. This promotes long-term economic growth and prosperity around the world.
NPCC is a world class Engineering, Procurement and Construction Company that provides total EPC solutions to both the offshore and onshore Oil & Gas sector. It provides engineering, procurement, project management, fabrication, installation and commissioning to project owners and operators. It was established in 1973 and is owned by Senaat, an Abu Dhabi Government Holding Company and Consolidated Contractors Group (CCC), an International Construction Group.