Dutch offshore services provider Royal Boskalis Westminster N.V. is selected as a contractor for Saudi Aramco's offshore facilities program, Boskalis announced in a statement on Monday.
The agreement will cover engineering, procurement, construction, transportation and installation contracts to support Saudi Aramco's 'Offshore Maintain Potential Program,' 'Oil and Gas Program,' and other offshore expansions, according to the statement.
Within the agreement, the investments could be more than $3 billion a year, with a program duration of six years, the statement said.
Saudi Aramco also has the option to extend the agreement further for 3-plus-3 years, it added.
'Selected contractors like Boskalis have the right to bid for tenders put out by Saudi Aramco without further technical prequalification, considerably shortening the lead time through to award,' the statement read.
The Dutch firm said it acquired the agreement in consortium with the United Arab Emirates-based company Lamprell, which will focus on the engineering, procurement and construction of offshore structures.
Boskalis will be responsible for the transportation and installation of these structures, dredging activities and specialist subsea activities, including survey, pipeline and cable installation.
'It is expected that the agreement will generate multiple hundreds of millions of euros revenue for Boskalis,' CEO Peter Berdowski said.
Lamprell CEO Christopher McDonald said that the program is 'one of the most sought-after and selective processes in the industry.'
By Ovunc Kutlu
Anadolu Agency
energy@aa.com.tr