This LTA contract is part of Aramco’s new contracting strategy and is aimed at improving cost efficiency and the quality and safety of its oil and gas brownfield and plan upgrade projects and to pioneer environmental sustainability fundamentals. It also focuses on establishing new businesses and developing partnerships based on sustainability and new technologies.
The scope of the LTA includes engineering, procurement, construction, start up and precommissioning of each project, as well as the installation of the upgraded facilities in the designated operating areas.
With the signing of this agreement, Saudi Aramco and Técnicas Reunidas will support growth in employment and the development of the workforce in Saudi Arabia, with a special emphasis on improving Saudization, local content and supply chains, contributing to the fulfillment of the objectives within the “In Kingdom Total Value Add” (IKTVA) program of Saudi Aramco.
With the signature of this LTA, TR demonstrates its full commitment to the kingdom of Saudi Arabia ant its main customer, Saudi Aramco.
Saudi Aramco is the world’s largest oil company, a leader in the exploration, production, refining and distribution of oil and its derivatives and natural gas. Headquartered in Dhahran, Saudi Arabia, Saudi Aramco has subsidiaries and branches in Saudi Arabia, China, Japan, India, the Netherlands, South Korea, Singapore, the United Arab Emirates, Egypt, the United Kingdom and the United States.
Técnicas Reunidas is one of the main international engineering companies that develops projects to respond to the needs of energy demand and environmentally friendly products for a wide spectrum of clients around the world. Our commitment is to optimize production efficiency, in accordance with the sustainability requirements of the different countries in which we are present. Since 1960, TR has designed and built more than 1,000 industrial plants in more than 50 countries.
About Técnicas Reunidas
Técnicas Reunidas is one of the leading international engineering and construction companies in oil and gas development, refining, petrochemical and power generation for a broad range of customers throughout the world. Since 1960 TR has designed and built more than 1.000 industrial plants in more than 50 countries.
About Saudi Aramco
Saudi Aramco is a leading global integrated energy and chemicals company. We are driven by the core belief that energy is opportunity. From producing approximately one in every eight barrels of the world’s oil supply to developing new energy technologies, our global team is dedicated to creating impact in all that we do. We focus on making our resources more dependable, more sustainable and more useful. This helps promote stability and long-term growth around the world.
“We are counting on the long-standing relationship between Saudi Aramco and SABIC on one side, and KBR on the other, to develop this preliminary engineering package for the world-class complex.” says Fahad E. Al-Helal, vice president of Project Management.