Saudi Aramco has allowed entities in its Long-Term Agreement (LTA) pool of offshore contractors additional time to submit proposals for the renewal of their agreements that are due to expire this year. Aramco issued invitations to its LTA pool of offshore contractors on 25 February. Contractors were initially set a deadline of 17 March to submit proposals, which has now been extended until 31 March. As part of their proposals, offshore LTA entities would need to include details of new time-unit rates, manpower resources, financial wherewithal and other project execution capabilities. Aramco regularly issues brownfield and greenfield engineering, procurement, construction, installation and commissioning jobs in Saudi Arabia’s offshore oil and gas sector. Contractors that are part of the offshore LTA pool have the exclusive right to bid for these tenders, which are issued in the form of Contracts Release and Purchase Orders (CRPO). Aramco officially formed the LTA group of offshore contractors in 2015. Four parties were selected to be part of the pool at that time: McDermott International (US), Dynamic Industries (US), a joint venture of Larsen & Toubro Energy Hydrocarbon (India) and Emas (Singapore), and Saipem (Italy). The Saudi energy giant signed six-year agreements with these contractors, with options for two consecutive three-year extensions. The offshore LTA pool was expanded in 2016 with the inclusion of Abu Dhabi’s NMDC Energy, which was known at the time as the National Petroleum Construction Company. A third expansion of the group took place in late 2018 and early 2019, when Aramco inducted six contractors, four of which formed two consortiums. (ICE RIYADH)

Fonte notizia: Meed