Saipem Nets $1,2B Worth of Onshore, Offshore Contracts in M. East

June 28, 2022

Italian oil and gas services company Saipem said Tuesday it had won several contracts, both onshore and offshore, in the Middle East worth approximately $1,2 billion.

The first batch of is related to the extension of onshore drilling contracts in the Middle East. worth around $600 million in total.

The contracts include the ten-year extension of existing contracts regarding four land-rigs located in the Middle East. The land rigs, with power ranging from 1,500 to 2,000 HP, will be employed for exploration and production activities in various oil and gas fields, in continuity with operations under execution in the area.

As for the offshore contract, the company has secured four new contracts in the Middle East. 

The scope of work of the contracts covers the engineering, procurement, construction and installation of several offshore jackets, decks, subsea pipelines, subsea composite cables, umbilicals, fiber optic cables and brownfield modifications. The combined value of the contracts is approximately $650 million.

 Saipem did not say who the clients were.



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