Aramco is pressing ahead with offshore expansion despite the conflict in the region, signing nearly 3 billion Riyals in new engineering contracts.
The move signals the world's largest oil exporter is not pausing investment as risks rise.
Abu Dhabi-listed NMDC Energy won three engineering, procurement and construction contracts worth about 2.9 billion Riyals ($763 million). The projects will run for 18 to 23 months. They were not named.
Built in Saudi Arabia
NMDC operates a 400,000-square-meter fabrication yard in Ras Al Khair, built at a cost of about 200 million Riyals.
Its long-term agreement with Aramco was extended for three years in 2025.
Spending stays on course
Aramco CEO Amin Nasser has said investment plans remain on track.
The company expects 2026 capital spending of 188 billion to 206 billion Riyals, with 65% to 70% going to upstream oil and gas.
What to watch
Whether more offshore awards follow, and which Saudi suppliers win the downstream work.
