Saipem Bags Deals Worth Approximately $1.3B
Saipem has secured two EPIC contracts (Engineering, Procurement, Installation, Construction) with Saudi Aramco worth approximately $1.3 billion.
The contracts are part of a long-term agreement for offshore activities in Saudi Arabia and cover work on offshore fields in Berri and Marjan, located in the Arabian Gulf, Saipem revealed.
Saipem’s workscope under the deals includes 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.
Last month, Saipem revealed that it and Petrobel had negotiated an offshore contract addendum worth more than $1.2 billion for EPCI (Engineering, Procurement, Construction and Installation) activities in relation to the ramp up to plateau phase of the Zohr development.
During the same month, Saipem, in joint venture with Renaissance, was awarded a new onshore E&C project in the Russian Federation worth $2.5 billion (EUR 2.2 billion).
Saipem describes itself as “one of the world leaders in drilling services, as well as in the engineering, procurement, construction and installation of pipelines and complex projects, onshore and offshore, in the oil and gas market”.
The company employs 32,000 workers and operates in more than 60 countries, according to its website.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- ExxonMobil Racks Up Discoveries in Guyana Block Eyed by Chevron
- Oil Market Sentiment Has Improved Significantly
- EU, US Eye Collaboration on Nuclear Materials
- USA Driving Activity to Increase to All-Time Highs
- TC Energy to Sell Prince Rupert Gas Pipeline Project to First Nation
- EU Electricity Export to Ukraine Up 94 Percent in Two Years
- China Coal Output Falls for First Time since Government Ordered More
- BP Pulse Buys One of Europe's Largest Truck Stops
- UK CCUS Plans Outdated: Think Tank
- North America Enters Rig Loss Streak
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Major Oilfield Discovery
- EIA Drops 2024 Henry Hub Gas Price Forecast
- EIA and Standard Chartered Offer Up Latest Oil Price Predictions
- Red Sea Region Sees Another Watershed Incident
- Chevron Oil Project in Kazakhstan to Cost $48.5B
- OPEC Voices Encouragement after IEA Affirms Support for Oil Security
- Biden Govt Bares Strategy for Freight Charging, Hydrogen Fueling Infra
- Ukraine Hits Third Russian Refinery In Escalating Drone Strikes
- Rystad Looks at the Buzz Around White Hydrogen
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Major Oilfield Discovery
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- Is Peak Oil Demand Close?
- Vessel Sinks in Red Sea After Missile Strike
- JP Morgan, Standard Chartered Reveal Latest Oil Price Forecasts
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Rystad Forecasts Net Production of Top Permian Producers in 2024
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension