With two new deals, Saipem’s contract value for Saudi field reaches $900 million

April 16, 2026, by Nadja Skopljak

Saipem has secured two new offshore contracts with Saudi Arabia’s Aramco, worth approximately $400 million, adding to the $500 million award announced in February for the same project.

Under the contract release purchase order (CRPO) reported two months ago, Saipem’s scope of work includes the engineering, procurement, construction and installation (EPCI) of a 48-inch trunkline, comprising approximately 65 kilometers offshore and 12 kilometers onshore, as well as associated subsea facilities in the Safaniya oil field, described as one of the world’s largest offshore oil fields.

The Italian company has now reported two new offshore contracts in Saudi Arabia, under its existing long-term agreement with Aramco.

The first CRPO covers the EPCI of one water injection tie-in platform, two water injection wellheads, approximately 5 kilometers of pipeline with diameters of 24 inches and approximately 15 kilometers of 15 kV cables at Safaniya, while the second includes the EPCI activities for four water injection wellheads, as well as associated subsea facilities, at the field.

Saipem will perform the fabrication activities related to the projects at its Saudi Fabrication Yard by Saipem Taqa Al-Rushaid Fabricators, with the company’s construction vessels currently deployed in the region to carry out the offshore operations.

At the end of 2025, Saipem secured two offshore contracts worth approximately $600 million under the existing agreement with Aramco. The first covers work for the Berri and Abu Safah oil fields, with a duration of 32 months, and the second, lasting 12 months, for the Marjan field.