Saipem clinches $1.3B offshore work with Saudi Aramco

Illustration / A Saipem construction vessel. Source: Wikimedia, Shared under CC BY-SA 3.0 license

Italian oilfield services giant Saipem has won two engineering, procurement, installation, and construction contracts with Saudi Aramco worth $1.3 billion.

The contracts were awarded under the Long Term Agreement for offshore activities renewed in 2015 and in force until 2021.

Saipem said on Friday that the new contracts were for the development of Berri and Marjan offshore fields in Saudi Arabia.

“Saipem activities include the design, engineering, procurement, construction, installation and implementation of subsea systems in addition to the laying of pipelines, subsea cables and umbilicals, platform decks and jackets,” Saipem said on Friday.