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Saudi Aramco signs $18 billion worth of contracts

Saudi Aramco has awarded 34 contracts with a total value of $18 billion for engineering, procurement and construction projects at its Marjan and Berri oil fields, a statement from the company said.

ARAMCO plans to boost production capacity at the two fields by 550,000 barrels per day of Arabian crude oil and 2.5 billion standard cubic feet a day of gas, according to the statement.

The company’s maximum sustained oil output capacity is currently 12 million barrels per day, the statement added.

Source: Reuters

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