Aramco reviews Manifa project
Saudi Arabian oil company Aramco is reviewing its $9bn Manifa oil field project and Saipem SpA, a major contractor, has been told not to take on any more commitments for it, the Italian company said on Friday.
The Saudi giant oil company Aramco last year completed the largest investment programme in its history costing 375 billion riyals which enabled it to maintain a steady production of oil at the rate of 12 million barrels per day and also enabled it to expand its refining capacity and to establish more petrochemical plants.