Saipem scoops $1B award from Saudi Aramco
- Business & Finance
Italian oilfield services provider Saipem has scooped new offshore contracts in Saudi Arabia worth around $1 billion in total.
The offshore engineering and construction company has received a notification of award from Saudi Aramco for the two engineering, procurement, installation, and construction (EPIC) contracts for work offshore Saudi Arabia.
According to Saipem, the two contracts, respectively, are for the development of fields in Marjan, Zuluf and Safaniya located in the Arabian Gulf, “which are among the most important offshore fields in the region.”
The contracts 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.
The two contracts will also include additional maintenance and dismantling works on the existing platforms already operating in the fields.
“With these contracts, Saipem is further reinforcing its presence in the Middle East, a highly strategic area,” said Stefano Cao, CEO of Saipem. “New contracts from a long-standing customer like Saudi Aramco are also an important, strong mark of its trust in Saipem as – once again – the high quality of its services and its solid expertise in the construction and installation of offshore platforms is recognised.”