Competition is intensifying among global energy contractors seeking expansion work at the world’s second-largest offshore oilfield, industry sources have confirmed. The project, considered one of the most lucrative in the sector, has drawn interest from companies in the Middle East, Europe, and Asia. The expansion aims to boost production capacity to meet rising global crude demand.
National oil authorities overseeing the field have issued several tender packages covering engineering, procurement, installation, and commissioning works. Experts say the bidding rounds have attracted a level of competition not seen in years. With oil prices stabilizing above historical lows, major contractors are eager to secure long-term offshore work.
The offshore field’s operator plans to significantly increase output through new wellhead platforms, subsea systems, and enhanced processing infrastructure. The expansions are part of a broader strategy to maintain market share within OPEC and strengthen the country’s supply reliability.
Energy analysts anticipate that the winning bidders will be announced early next year. The project’s scale means multiple contractors may be awarded various segments, reducing project risk and accelerating timelines. Estimated costs for the full expansion exceed several billion dollars.
Once completed, the upgraded field could add hundreds of thousands of barrels per day to global supply. The expansion will also stimulate employment and contracting opportunities, especially within local supply chains.