Saudi Aramco revives Khurais oil field expansion

State oil producer, Saudi Aramco, has revived work on the Khurais oil field expansion project, which was put on hold earlier this year owing to cost-related concerns, Middle East Economic Digest (MEED) reported quoting unnamed sources familiar with the project.

The project is estimated to cost $3 billion. The oil giant had recently scaled back on some of its projects amid declining oil prices. It has also shelved less important investments and requested discounts on some awarded contracts.

Italy-based Saipem— which was awarded the engineering, procurement and construction (EPC) package on the project for the central processing facilities—is thought to have completed the engineering work for the main package and was ready to move to the construction phase, the report said.

The site preparation work is also expected to be complete by the end of the year and two other pipeline packages have been included in the project, the report said.