Saipem Awarded A New Offshore Contract In Saudi Arabia Worth Approximately 2 Billion USD

Saipem Awarded A New Offshore Contract In Saudi Arabia Worth Approximately 2 Billion USD

 
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Saipem has been awarded a new offshore contract, under the existing Long-Term Agreement (LTA) with Saudi Aramco, for the development of the Marjan field in Saudi Arabia. The value of the contract is approximately 2 billion USD.

The award follows the completion of the bidding procedure, and the occurrence of the usual preliminary conditions requested by the client.

Saipem’s scope of work involves the engineering, procurement, construction and installation of wellhead platforms’ topsides, wellhead platforms’ jackets, tie-in platform jacket and topside, rigid flowlines, submarine composite cables and fiber optic cables.

Saipem will deploy its local offshore fleet, including state-of-the-art dynamic positioning vessels, its advanced welding technology and will leverage on its renowned engineering expertise. Furthermore, the fabrication activities will be executed at the Saudi fabrication yard Saipem Taqa Al-Rushaid Fabricators Co. Ltd (STAR), located in Dammam, further enhancing the local content and developing the capabilities of the local industry.

This important contract, at the backdrop of the recent awards by Saudi Aramco to Saipem, reinforces company’s long-standing presence in the Kingdom of Saudi Arabia.

Published: 20-09-2024