Saipem Bags $1.7B Contract with Qatargas

Saipem Bags $1.7B Contract with Qatargas
Saipem has received a letter of award for the development of the North Field Production Sustainability Offshore Project.

Saipem announced Monday that it has received a letter of award for the development of the North Field Production Sustainability Offshore Project, which is located offshore of the North-East coast of the Qatar peninsula.

The scope of work under the contract, which is said to be worth approximately $1.7 billion, encompasses the engineering, procurement, construction, and installation of various offshore facilities for the extraction and transportation of natural gas, including platforms, supporting and connecting structures, subsea cables, and anticorrosion internally cladded pipelines, Saipem revealed. The project also includes the decommissioning of a pipeline and other significant modifications to existing offshore facilities, Saipem outlined.

In addition to this award, Saipem said it received a letter of intent from Qatargas for the contractual package regarding offshore export pipelines and related onshore works of the North Field Production Sustainability Pipelines Project. The award of this additional package is subject to the definition of contractual details and the client’s final approval, Saipem noted.

“Saipem is well positioned and actively executing various contracts in Qatar, a key market for us with several offshore investments expected to progress in the near future,” Stefano Porcari, Saipem’s E&C Offshore Division COO, said in a company statement. 

“This acquisition by Qatargas consolidates our position in the gas sector, confirms our strategic role in the energy transition and represents a token of confidence in Saipem’s experience and proven ability to successfully execute and deliver challenging projects,” he added.

“Furthermore, it also confirms the relevance and effectiveness of the early engagement model adopted through our division XSIGHT, which recently concluded, ahead of time, the Front-End Engineering Design contract for the whole NFPS development program,” Porcari continued.

Earlier this month, Saipem revealed that it had been awarded a contract by Eoliennes Offshore du Calvados SAS (EODC) for the Courseulles-sur-Mer offshore wind farm in Normandy, France. The contract, which was said to carry a total value for Saipem of approximately $558 million (EUR 460 million), is subject to a notice to proceed, which is contingent upon EODC making a positive final investment decision, Saipem noted.

Saipem describes itself as a global solution provider in the energy and infrastructure sectors. The business operates in more than 70 countries and employs over 35,000 people, its website shows.

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