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Saudi Aramco Invites Proposals from Offshore LTA Contractors

Saudi Aramco allowed entities in its Long-Term Agreement (LTA) pool of offshore contractors time until 31 March to submit proposals for the renewal of their agreements that are due to expire this year.

 

Aramco issued invitations to its LTA pool of offshore contractors on 25 February.

 

As part of their proposals, offshore LTA entities would need to include details of new time-unit rates, manpower resources, financial wherewithal and other project execution capabilities. Aramco regularly issues brownfield and greenfield engineering, procurement, construction, installation and commissioning jobs in Saudi Arabia’s offshore oil and gas sector.

 

Contractors that are part of the offshore LTA pool have the exclusive right to bid for these tenders, which are issued in the form of Contracts Release and Purchase Orders (CRPO). Aramco officially formed the LTA group of offshore contractors in 2015.

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