Saipem Wins New Contracts Worth Almost $200 Million

ROME - Italian oil-services compamy Saipem SpA said Friday it has won new contracts worth almost $200 million for jobs in Abu Dhabi, Ecuador and Egypt.

Saipem said it won a three-year contract to offer off-shore drilling equipment for a project off Abu Dhabi, with the work to start early next year.

The company said it also won an equipment leasing deal in Ecuador which will start in the fourth quarter of 2012.

Saipem said it also signed a contract with GDF Suez to use its Scarabeo 4 platform in an offshore project near Egypt.

Copyright (c) 2012 Dow Jones & Company, Inc.

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