Saipem Awarded Services Contracts Worth Approximately $700MM



Saipem Awarded Services Contracts Worth Approximately $700MM
Saipem announces that it has been awarded services contracts worth approximately $700 million.

Saipem announced Tuesday that it has been awarded services contracts worth approximately $700 million.

These include subsea flowlines, umbilicals and risers (SURF) contracts for the second phase of the ExxonMobil led Liza development offshore Guyana, and an offshore E&C contract in the Republic of Congo for a maintenance, modifications and operations project.

The Liza field is located approximately 125 miles off the shores of Guyana in the Stabroek Block at a water depth up to 6,069 feet.

Last month, Saipem announced that it had been awarded onshore E&C contracts in Saudi Arabia, Serbia, Mexico, Iraq and Nigeria worth approximately $800 million. These included contracts from Saudi Aramco, ExxonMobil and Pemex.

In June, Saipem said it had been awarded a pipeline project in the E&C offshore sector in the Middle East worth approximately $1.3 billion and in April the company revealed that it had been awarded new contracts in offshore drilling and offshore E&C worth approximately $190 million.

Saipem reported an adjusted operating profit (EBIT) of $294 million (EUR 255 million) for the first half of 2018.

The company operates in 66 countries and employs over 34,000 people, according to its website.



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