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Sources in Saudi Arabia have said that the hydrocarbons giant Saudi Aramco is planning to cut costs at the massive South Ghawar oilfield by awarding an integrated drilling contract worth around US$500 million.
Reuters reported that the contract is due to be awarded in mid-November and interested parties include Baker Hughes, Sinopec, Schlumberger, Halliburton and Weatherford.
“They want one company to provide the rigs, directional services. The objective is to cut costs,” a source close to the bidding process is reported by Reuters as saying.
The contract will run for five years and the winning bidder will be expected to provde full management services for drilling and rig operations.
“It’s an integrated project management from A to Z. What Aramco is trying to do is packaging and give the field to a services company to develop it,” Reuters report another source as saying.
