13
Mar
2019
Marjan and Berri Opportunities to Dominate at MEOS 2019
The Middle East Oil Show (MEOS) returns to Bahrain during 18-21 March. As an SPE event in that location, MEOS has long been recognised as a dual opportunity to update on developments in the Saudi oil and gas market and the latest news on advanced oil and gas technology.
Latest news from Saudi Arabia has been the launch of the US$15 billion Marjan Crude Increment Programme and US$6 billion Berri oilfield development project and associated gas plant. The North Sea diaspora will no doubt be staying close to their key offshore contractors McDermott, Saipem and Subsea7 where offshore technology and expertise is still king. Opportunities peeling off from “lowest cost is best” focused COOEC, Sapura Energy, L&T and NPCC will be more circumspect.
The Marjan project includes 200km of subsea pipelines across 21 segments, 150km of subsea cables across 15 segments, 3 tie-in platforms and 9 oil wellhead platforms and, to follow on, a gas cap production network and other tie-ins and wellhead platforms. The Saudi capex and opex opportunities intermeshed with the IKTVA requirements continues to spur on joint ventures with local players and that trend is set to continue to render agency agreements as increasing obsolete.