Saipem Secures Services Contracts Worth $1B

Oilfield services firm Saipem has been awarded new contracts in the offshore segment worth an overall amount of around $1 billion.

The most significant contracts are the two Saudi Aramco EPIC (engineering, procurement, installation, construction) awards for activities in Saudi Arabia. These two contracts refer to, respectively, 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, according to Saipem.

These 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 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”, stressed 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 recognized”.