Tecnimont and CCC secure major contract for Saudi Aramco's Safaniyah project
What happened
Tecnimont, an Italian contractor, signed a major construction contract with Saudi Aramco for the Safaniyah Water Injection Project. Tecnimont is responsible for delivering the project, while Consolidated Contractors Company was subcontracted to handle the on-the-ground construction work. This agreement reinforces the collaboration between the two companies on hydrocarbon projects in the Gulf.
From tradearabia.com
Why it matters
The project is part of Saudi Aramco’s upstream development program at Safaniyah, the world's largest offshore oil field. Water injection is central to maintaining reservoir pressure and sustaining production at the field. The contract deepens the working relationship between Tecnimont and Consolidated Contractors Company for major oil and gas projects in Saudi Arabia.
McDermott International is also supporting capital projects for Saudi Aramco.
From tradearabia.com
Who's involved
- Saudi AramcoSaudi Arabian state-owned petroleum company receiving the project
- Consolidated Contractors CompanySubcontracted to handle the project execution and construction work
- TecnimontItalian company delivering the Safaniyah Water Injection Project to Saudi Aramco
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Consolidated Contractors CompanySpeculative
Consolidated Contractors Company could see its revenue increase by securing a major subcontract for Saudi Aramco's critical Safaniyah offshore oil field project.
- TecnimontSpeculative
Tecnimont could see its revenue increase by signing the major construction contract with Saudi Aramco for the Safaniyah project.
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The entities involved
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Saudi Aramco
Saudi Arabian state-owned petroleum company
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Consolidated Contractors Company
company
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Tecnimont
Italian company
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