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Saipem awarded new contracts worth $500 million, including new Saudi Aramco deal

Saipem has been awarded a new engineering and construction offshore contract by Saudi Aramco that covers some of the most important offshore fields in the Middle East.

The new contract will run until 2021, and includes the design, engineering, procurement, construction and installation of a total of 19 jackets for the development of fields in Marjan, Zuluf, Berri, Hasbah, and Safaniya.

Stefano Cao, Saipem CEO, commented: “With this award, Saipem is further reinforcing its presence 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”.

Additionally, Saipem has negotiated the extension in Angola of the deployment of vessel FPSO Gimboa, inclusive of management and maintenance services, personnel, material and consumable supplies for three years, plus one optional year.

Finally, Saipem has defined change orders for projects in West Africa and in the Caspian Sea.

Together, these new acquisitions amount to a total of $500 million.

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