Saudi Aramco has dished out awards for at least three offshore contracts for its Zuluf oilfield expansion project.

Aramco, the world’s largest oil exporter, is embarking on multiple brownfield and greenfield developments, with its capital expenditure expected to increase sharply this year, on the back of higher upstream spending and the expansion of some of its largest oilfields.

The Saudi state giant narrowed its capital expenditure guidance for 2023 to between $48 billion and $52 billion as it stays on track with sizeable upstream expansion plans.