Aramco signs contracts worth $ 18 billion to boost oil production capacity

Business-

Economie

16:46 09.07.2019(Updated 16:48 09.07.2019) .

Saudi Aramco has announced that it has set up 34 contracts with a total value of $ 18 billion to execute projects for the design, supply and construction of the oil and oil fields.

The company said in a statement that Aramco aims to raise the production capacity of the fields by 550 thousand barrels per day of Arab crude and 2.5 billion cubic feet of gas per day. According to "Reuters".

The company's maximum sustainable oil production capacity now stands at 12 million bpd.

The percentage of contracts won by local companies was 50 percent and more than 90 companies and companies participated in the competition.

The project aims to increase the production capacity of the Coral field by 300,000 barrels of oil per day of Arab crude and processing 2.5 billion standard cubic feet per day of gas, as well as "raising production by 360 thousand barrels per day of natural gas liquids containing ethane" According to the company statement.

Aramco also aims to increase the production of Arab light crude by 250 thousand barrels per day from the field of land.