Saudi Aramco has awarded a new E&C offshore contract to Saipem, a provider of drilling services to the oil and gas market, for engineering, procurement, construction, installation (EPCI) activities and Trunklines and Installation (T&I) works in Saudi Arabia.
The contract was awarded to Saipem under a long-term agreement, which was renewed in 2015 until 2021.
Under the contract, Saipem will design, engineer, procure, construct and install 19 jackets for the development of offshore fields in Marjan, Zuluf, Berri, Hasbah, and Safaniya in the Arabian Gulf region.
Saipem has also secured extension of the deployment of FPSO Gimboa floating production, storage, and offloading vessel in Angola.
Under the extended FPSO contract, Saipem will take up management and maintenance services, personnel, material, and consumable supplies, for three years and one optional year. Both these contract are worth $500m.
The company has also successfully negotiated change orders for projects in West Africa and in the Caspian Sea.
Saipem claims to have unique capabilities to operate in remote areas, harsh environments, and deep water. It provides an entire range of services with EPC and EPCI contracts on a turnkey basis.
Saipem CEO Stefano Cao said: “With this award, Saipem is further reinforcing its presence in a highly strategic area such as the Middle East.
“The new contracts assigned by a long-standing customer like Saudi Aramco are also a strong and tangible sign of a major client’s trust in Saipem, in the high quality of its services and in the solid expertise the company can ensure in the construction and installation of offshore platforms.”