South Korean firm picks up $2,7B Saudi Aramco construction contracts

South Korea’s Hyundai E&C has won contracts valued at around $2.7 billion for construction works as part of Saudi’s Aramco’s Marjan development project.

Saudi Aramco on Tuesday awarded $18 billion worth of contracts as part of Marjan and Berri offshore oil field developments aimed at boosting production by 500,000 barrels a day.

The giant oil company at the time did not say who the contractors were, but hints could be picked up from a contract signing photo which showed the names of Saipem, COOEC, Hyundai, and others.

McDermott (and COOEC), Saipem, and Hyundai E&C have subsequently confirmed winning the contracts. Hyundai E&C said on Wednesday it had won contracts as part of Marjan packages 6 and 12.

Under the contracts, the Korean company, which confirmed the award via social media, will build an onshore gas and crude-processing plant, as well as utility facilities for an offshore plant.