Saudi Aramco is preparing to award several significant offshore contracts, known as Contract Release Purchase Orders (CRPOs), as part of its long-term agreement framework with international contractors. These deals focus on brownfield and capacity maintenance projects for major offshore oil and gas fields.

Contract Awards and Front Runners

Two contractors have been selected for three specific CRPOs, though final agreements are pending. Italy's Saipem is the leading contender for CRPOs 154 and 155. CRPO 154 involves the engineering, procurement, construction, and installation (EPCI) of a water injection tie-in platform and two wellhead platforms. CRPO 155 comprises work on four new wellhead platforms. Both projects are for the Safaniyah offshore asset. Separately, China's Offshore Oil Engineering Company (COOEC) is the potential front runner for CRPO 161, which entails EPCI work on four offshore jackets for the Arabiyah, Hasbah, and Karan assets.

Market Context and Recent Activity

The awards are part of Aramco's ongoing, robust capital expenditure strategy, with a continued heavy spend on upstream projects, particularly gas. The long-term agreement market has averaged $2 billion to $3 billion annually but saw higher activity in 2025 due to multibillion-dollar contracts for the Zuluf field. Saipem has been a major beneficiary recently, winning a $500 million contract (CRPO 165) in February for a large water injection pipeline at Safaniyah, and two other offshore contracts (CRPOs 162 and 165) in December. While multiple EPCI deals are expected in the coming months, some awards have been delayed due to the ongoing Middle East conflict.

Nature of the LTA Programme

The long-term agreement programme primarily consists of projects to replace, upgrade, or install new infrastructure to enhance production or replace aging pipelines and facilities, ensuring continuous commercial activity in Saudi Arabia's offshore sector.