Saudi Aramco has signed long-term contracts with 8 local and international companies to develop existing projects in the oil and gas sector.

Aramco said in a statement on its website today, Wednesday: "The new contracts were concluded for a period of 6 years, with an option to extend for another 6 years."

The scope of long-term agreements includes engineering, procurement, construction, start-up and commissioning of each project, as well as installation of upgraded facilities in designated work areas.

The agreements stipulate the necessity of a commitment to use 39%, as a minimum, of local content and supply chains in the first period, provided that this percentage of commitment increases to 60%, within six years.

Eight Saudi and international companies won the new contracts, they are: “Nasser Saeed Al Hajri’s Consortium, Samsung Engineering, Procurement and Construction Company Ltd., Daylam Saudi Arabia Company, Branch Engineering Company for Petroleum and Chemical Industries (Enppi), GS Arab Construction Company, Sanambrogiti Engineering and Contracting Company Ltd. , JGC Gulf Engineering, a subsidiary of Technip Italia SBA, and a Hyundai Engineering and Construction subsidiary.