Saudi Aramco close to giving gas deal to Tecnicas

Saudi Arabian Oil Co. (Saudi Aramco) is close to awarding a contract to Spanish engineering group Tecnicas Reunidas, Reuters has reported, citing unnamed sources.
 

Tecnicas Reunidas received a letter of intent from Saudi Aramco, and the estimated bid value is about $2.3 billion to $2.4 billion.

TR offered the lowest bids to build the gas compressor stations that will help boost gas supplies from Haradh and Hawiyah.

Tecnicas Reunidas is expected to sign the deal contract in the following weeks.

Hawiyah and Haradh are part of Ghawar, the world’s largest onshore oilfield. Saudi Aramco plans to nearly double gas production to 23 billion standard cubic feet a day in the next ten years.

Despite the slump in oil prices, Aramco is pushing ahead with several energy projects to keep up with global demand.