$1.8 billion.. Emirates Petroleum Construction wins projects from Aramco
Saudi Aramco will pay a $1.8 billion stake in the UAE's petroleum projects
Shrouq
The Emirates National Petroleum Construction Company, affiliated to the Marine Dredge Company, won three projects from Saudi Aramco worth up to $1.82 billion.
The first and second projects will focus on the development of offshore facilities worth 1.3 billion dollars within a package of projects for the production of Middle Arab oil.
Emirates Petroleum Construction wins projects from Aramco
As for the third project, it aims to replace a marine pipeline worth 520 million dollars, according to a statement issued today, Wednesday, November 15, 2023.
In June 2022, the Saudi oil company Aramco arrested two projects on the UAE's National Petroleum Construction Company (NPCC) with a total value of 673.2 million dollars.
And the National Petroleum Construction Company is fully owned by the National Marine Dredging Company (NMDC) in which the Abu Dhabi government owns 32% of its shares, according to NMDC information on its LinkedIn account.
According to a statement, the two projects are the Jafoura development program worth $460.2 million, and another project for Aramco worth $213 million.
"Solutions" signed a 329 million riyal contract with Aramco
On a related level, the Arab Internet and Communications Services Company (Solutions) signed a contract with Saudi Aramco worth 329 million riyals (including VAT) to provide a high-performance computer in addition to the related services that include hosting, maintenance, technical support and related services.
The partners said in a statement to "Tadawul Saudi Arabia" today Monday, that through this project, Solutions will support the digital transformation of Saudi Aramco for five years.
She added that the project was awarded and the contract was signed on November 13, under which "Solutions" undertakes the design, implementation, operation and management of the high-performance computer, the management, maintenance and technical support for five years, the provision of data center hosting services for the high-performance computer, the provision of a private and secure network, and the provision of the latest Cyber security mechanisms and services.
"Solutions" expected the financial impact to appear on its financial statements starting from the fourth quarter of the year 2023.
