The consortium of France’s Technip and local contractor National Petroleum Construction Company (NPCC) has submitted the lowest bid for the Satah Full Field Development project.
Market sources say the engineering, procurement and construction (EPC) bid to increase production at the offshore oil field is priced at $485m.
This is a significantly lower sum than the bids by the consortium’s nearest competitors, the second lowest of which is believed to be in the region of $550m.
The EPC contract stipulates the construction of the artificial islands and of a phased build-up of production and injection facilities. It also includes the upgrading of existing production sites.
Other companies that have submitted bids for the project include:
- Larsen & Toubro (India)
- J Ray McDermott (US)
- Petrofac (local)
- Saipem (Italy)
- Hyundai Heavy Industries (South Korea)
UK-based Mott MacDonald and Tebodin of the Netherlands are undertaking the front-end engineering and design (feed) work. Project management consultancy (PMC) for the feed work will be undertaken by Mott MacDonald, while Penspen (UK) will be project managing the EPC stage.