Boskalis Inks LTA Agreement with Saudi Aramco
- Business & Finance
Royal Boskalis Westminster N.V. has been selected as a contractor on Saudi Aramco’s Long Term Agreement for Offshore Facilities (LTA) program.
Boskalis acquired the agreement in consortium with the United Arab Emirates-based company Lamprell.
Lamprell will focus on the engineering, procurement and construction of offshore structures, such as topsides and jackets, and Boskalis will be responsible for the transport and installation of these structures, in addition to dredging activities and specialist subsea activities, including survey as well as pipeline and cable installation.
“The LTA is part of an ambitious offshore investment program and covers engineering, procurement, construction, transportation and installation (EPCI) contracts to support Saudi Aramco’s Offshore Maintain Potential Program, Oil & Gas Program, and other offshore expansions,” said Boskalis in its today’s release.
Within the scope of the LTA, investments could exceed USD 3 billion per annum with a program duration of 6 years, with options by Saudi Aramco to extend for a further 3 plus 3 years.
According to the official statement, 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.