Saudi Aramco awards LTA to NPCC
Published Date : 23, Oct 2016
Saudi Aramco Offshore Projects Department awards Long-Term Agreement (LTA) to National Petroleum Construction Company (NPCC) of Abu Dhabi
The LTA is for the execution of Saudi Aramco's world-class offshore development program which includes deliverables such as offshore oil and gas producing platforms, tie-in platforms, pipelines, power cables and related facilities
Dhahran, October 8, 2016— Saudi Aramco's Offshore Projects Department recently awarded a fifth Long-Term Agreement (LTA) to National Petroleum Construction Company (NPCC) of Abu Dhabi for the execution of its world-class offshore development program. In June 2015, four LTA contracts were awarded to internationally renowned Engineering, Procurement, Fabrication and Offshore installation (EPIC) contractors.
The LTA was signed by Saudi Aramco Project Management Executive Director Tofiq Gabsani and Aqeel Madhi, CEO of NPCC.
Under the LTAs, contractors will be entrusted with the responsibility to deliver a huge number of offshore oil and gas producing platforms, tie-in platforms, pipelines, power cables, and all the related facilities required under the current Master Plan for Saudi Aramco's offshore fields. The LTA contracts have a fixed duration of six years with options to be extended for up to twelve years in total.
Commenting on the milestone of awarding the high impact agreement, Ahmad Al Saadi, Senior Vice President of Saudi Aramco's Technical Services said "This fifth strategic LTA is needed for the successful execution of the complex and extensive offshore projects to be completed in the offshore Oil & Gas fields in the Arabian Gulf — all within an aggressive schedule". He also underlined the importance of local procurement and working with local companies, contractors and employing Saudis as outlined in the Company's In-Kingdom Total Value Add (IKTVA) program.
Aqeel Madhi, CEO of NPCC said "It is a great honor and a great opportunity to be part of the LTA for Saudi Aramco's offshore projects. We consider Saudi Aramco a strategic partner for us, and will spare no effort to ensure we meet the expectations of Saudi Aramco in terms of performance, quality and adherence to delivery schedule considering that NPCC have a good record in providing services according to the highest standards and foremost to achieve the aspirations of the IKTVA program".