Saipem Clinches New Offshore Contracts for $2.2B

ROME (Dow Jones Newswires), March 9, 2011

Saipem has been awarded offshore contracts worth more than $2.2 billion.

In a statement, Saipem said Saudi Aramco gave it a contract in the offshore development of the Arabiyah and Hasbah fields located 150 kilometers northeast of Jubail, in the Persian Gulf.

The Milan-based company also said it agreed various increases with clients for the scope of work on existing offshore contracts, without providing details.

Copyright (c) 2011 Dow Jones & Company, Inc.

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