Saipem inks US$1 billion in work

November 9, 2016

Saipem has been awarded new contracts with an overall amount of about US$1 billion, with two major deals awarded by Saudi Aramco.

In particular, the most significant are the notification of award by Saudi Aramco of two EPIC contracts (engineering, procurement, installation, construction), under the long term agreement in force and renewed in 2015 until 2021 for activities in Saudi Arabia, Saipem said.

These two contracts are for the development of fields in Marjan, Zuluf and Safaniya located in the Arabian Gulf. 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. Furthermore, the two 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,” 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.”



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