Saipem lands two offshore contracts with Saudi Aramco

MILAN -- Saipem has been awarded “new contracts and change orders” worth about $1 billion, according to a company statement.

According to the company, the “most significant” development was the award of two engineering, procurement, installation and construction (EPIC) contracts by Saudi Aramco. The contracts fall under a long-term agreement that was renewed until 2021.

These two contracts refer to the development of Marjan, Zuluf and Safaniya fields, in the Arabian Gulf, which are among the most important offshore fields in the region. The contracts include the design, engineering, procurement, construction, installation and implementation of subsea systems. In addition, the contracts also include the laying of pipelines; subsea cables and umbilicals; platform decks; and jackets. Furthermore, the contracts will also include additional maintenance and dismantling works on the platforms that are already operating in these fields.

“With these contracts, Saipem is further reinforcing its presence in the Middle East, a highly strategic area,” Stefano Cao, CEO of Saipem, said. “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.”

Details of additional contracts and awards were not disclosed.