Recently, Offshore Oil Engineering Co., Ltd. (COOEC) and Saudi Aramco held an LTA (Long Term Cooperation Agreement) renewal ceremony in Dhahran, Saudi Arabia. This event signifies further recognition of COOEC’s international engineering, procurement, and construction (EPC) capabilities and holds significant importance for promoting the sustained development of its business in the Middle East region.
Zhang Haitao, Vice President of COOEC, and Yahya A. Abu Shal, Senior Vice President of Upstream and Downstream Project Management of Saudi Aramco, signed the LTA on behalf of COOEC and Saudi Aramco respectively, and both parties held in-depth talks on the progress of the project, the localization investment, and the way of future cooperation.
The LTA is a long-term cooperation agreement signed between Saudi Aramco and its partners, and it serves as a crucial pathway for COOEC to enter the Saudi Aramco market. In 2018, COOEC signed the LTA agreement with Saudi Aramco for the first time, becoming the only Chinese company to be included in the shortlist of offshore EPC (Engineering, Procurement, and Construction) contractors under Saudi Aramco’s LTA framework.
The renewal of the LTA with Saudi Aramco marks a more solid step for COOEC toward joining the top tier of international EPC contractors. It also represents the successful application of the company’s experience in market access, technical requirements, resource allocation, and project execution within the Saudi Aramco market.