Saudi Aramco plans to award an integrated drilling contract in South Ghawar in a bid to cut costs, according to industry sources.

Aramco is expected to award the $500m contract by mid-November, industry sources close to the bidding process told Reuters.

Baker Hughes, Sinopec, Schlumberger, Halliburton and Weatherford are bidding for the job, according to the agency.

“They want one company to provide the rigs, directional services. The objective is to cut costs,” a source told Reuters.

The five-year turnkey project will allow service providers to fully manage the drilling operations, including rigs.

Three sources said that the work would involve Uthmaniyah, Haradh and Hawiyah in Ghawar, the world’s largest oilfield.