Saipem, through its subsidiary Snamprogetti, has been awarded the lump sum turn key contract for the engineering procurement and construction of the gas-oil separation plant (GOSP) and Khursaniyah Program Utilities, as part of Saudi Aramco's Khursaniyah Development Program in Saudi Arabia. The work includes utilities, producing facilities and two separation trains with a total capacity of 500,000 BPD. The contract, awarded by Saudi Aramco, is expected to be completed by late 2007.
Saipem employs approximately 1,200 people in Saudi Arabia and is currently carrying out contracts in the onshore construction, offshore and onshore drilling sectors.
Saipem has been awarded a contract by Shell Petroleum Development Company of Nigeria Limited for engineering, procurement, construction and commissioning for the logistics base of the Gbaran Ubie field, located in Bayelsa State Niger Delta, Nigeria. Completion of the project is scheduled for third quarter 2008.
Saipem is currently carrying out the EPC contract, won in February 2006, for 340 kilometers of pipelaying as part of Gbaran/Ubie integrated oil & gas project.
In Nigeria, Saipem employs approximately 2,900 local staff and is currently executing more than ten contracts in the offshore, onshore, leased FPSO and offshore drilling sectors.
Saipem (43% owned by Eni) is leader in the provision of Engineering, Procurement, Project Management and Construction services for the Oil & Gas Industry, with a distinctive capabilities in design and execution of large scale offshore and onshore projects, and with a strong bias towards activities in deepwater, remote areas and with significant technological competence such as gas monetization and heavy oil exploitation. Saipem is listed on the Italian stock exchange and currently has a current market capitalisation of approximately 9 billion euro.
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