Saipem wins Saudi Aramco contract for offshore fields

Saipem wins Saudi Aramco contract for offshore fields

Jul 03, 2017
2 min read
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Italian contractor Saipem said it won orders worth US$500 million, which includes an EPC contract by Saudi Aramco for the development of its five offshore fields. 

The scope of work the Saudi state-owned energy giant includes the design, engineering, procurement, construction and installation of a total of 19 jackets for the development of fields in Marjan, Zuluf, Berri, Hasbah, and Safaniya, in the Arabian Gulf, Saipem said in a statement.

Saipem’s will carry out engineering, procurement, construction, installation activities and trunklines and installation, it said. The contract falls under the long-term agreement between the two companies in force, renewed in 2015 to run until 2021.

“With this award, Saipem is further reinforcing its presence a highly strategic area such as the Middle East,” Stefano Cao, Saipem CEO said. “The new contracts assigned by a long-standing customer like Saudi Aramco are also a strong and tangible sign of a major client’s trust in Saipem, in the high quality of its services and in the solid expertise the Company can ensure in the construction and installation of offshore platforms.”

Additionally, Saipem has negotiated the extension in Angola of the deployment of vessel FPSO Gimboa, inclusive of management and maintenance services, personnel, material and consumable supplies for 3 years, plus one optional year.

Saipem also defined change orders for projects in West Africa and in the Caspian Sea.

These new contracts have a combined value of $500 million, to be recorded in the second quarter, Saipem said.