KHOBAR - Saudi Aramco has awarded $400 million worth of seismic contracts as it steps up oil and gas exploration in the Kingdom, industry sources said. The data-gathering contracts will cover the Red Sea and the 900,000 barrels per day (bpd) Moneefa oilfield, said the sources from BGB Arabia, a joint venture between BGB International, The local firm, a subsidiary of China National Petroleum Corp and the Saudi Rafid Group are expected to sign the contracts with Aramco this month, the sources said. The first one, a 3D program on Moneefa will last for two years while a 2D transition offshore/ onshore zone on the Red Sea will be over a period of 14 months and another onshore 4 year program to study possible gas or oil finds in some parts of the vast Empty Quarter, the sources said. “There is no confirmation from Aramco that the Rub Al-Khali (Empty Quarter) is going to be included in this program but maybe some terrains,” the first source said.
