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Gas Arabian Services (GAS), a key provider of automation, instrumentation, project management and field services for the energy sector, said it has won a deal worth SR139.5 million ($37 million) for the Saudi Aramco Zuluf Onshore oil facilities project.
The two-year contract was awarded by the JGC Arabia, the local unit of leading Japanese engineering group JGC, stated GAS in its filing to Saudi bourse Tadawul.
As per the deal, GAS will provide services with regard to the pre-assembly and erection of steel structure, equipment installation, piping, painting as well as other MCS MP support services for the key onshore oil facilities project being developed by Saudi Aramco.
Zuluf, a super-giant oil field located in the Arabian Gulf, approximately 40km offshore the north-east coast of Saudi Arabia, is undergoing expansion to increase its production capacity. It is present at a shallow water depth of approximately 40m, said the statement.
Following the expansion, Zuluf will boost its production capacity from 800,000 barrels per day (bpd) of Arabian medium crude oil to 1.4 million barrels per day (Mbpd) of heavy crude oil.
The financial impact on the company's financial statements will appear over the next two years, it added.-TradeArabia News Service