The programme with an initial period of six years could see LTA investments in excess of $3bn a year and could be extend by up to another six years by the Saudi national oil and gas firm with two three year options.
The LTA programme covers nvestment programme and covers engineering, procurement, construction, transportation and installation (EPCI) contracts to support Saudi Aramco's Offshore Maintain Potential Programme, Oil & Gas Programme and companies selected can bid for projects without further pre-qualification.
As a consortium Lamprell will focus on the engineering, procurement and construction of offshore structures, such as topsides and jackets while Boskalis will be responsible for the transport and installation of these structures.
“This is one of the most sought-after and selective processes in the industry and the award advances our strategic aspirations with respect to both Saudi Arabia and the EPCI sector, as well as cementing our relationship with an industry partner in Boskalis. Saudi Arabia is the cornerstone of Lamprell's growth strategy as is evidenced by our investment in the IMI: and we are extremely grateful to have been given this opportunity to participate in the LTA," said Christopher MacDonald ceo of Lamprell.
Boskalis said it expected the agreement to generate multiple hundreds of millions of the Euros for the company. Peter Berdowski, ceo, Boskalis: "This agreement with Saudi Aramco marks an important milestone for Boskalis. As spearhead of our strategy we have over the last number of years invested in vessels and people to broaden our offshore transport and installation capabilities. The choice for Boskalis as LTA partner supports and confirms our strategic vision.”