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Italian energy services provider Saipem has secured a new offshore contract, valued at approximately $2bn (€1.8bn), for the development of an oil and gas field in Saudi Arabia.
This contract, which is part of the long-term agreement with Saudi Aramco and follows the completion of the bidding procedure, is for the Marjan field.
Saipem’s scope of work includes the EPCI of various offshore structures and systems.
These comprise wellhead platforms' topsides and jackets, a tie-in platform jacket and topside, rigid flowlines, submarine composite cables and fibre-optic cables.
Saipem's local offshore fleet will be deployed for this project.
Fabrication activities will take place at Saipem Taqa Al-Rushaid Fabricators (STAR) in Dammam, which will contribute to the local content and development of the local industry.
This contract bolsters Saipem's presence in Saudi Arabia and follows recent awards by Saudi Aramco, including two contracts for the Zuluf and Safaniyah offshore fields with a combined value of approximately $1bn (SR3.75bn).
Under the first of these contracts, Saipem is responsible for the EPCI of three production deck modules (PDMs), 33km of subsea rigid pipelines and 34km of subsea power cables in the Marjan field.
The second contract involves the EPCI of three jackets, five PDMs, 22km of 16in-diameter subsea rigid pipelines, 5km of subsea flexible pipelines and 35km of subsea power cables in the Zuluf and Safaniyah oil fields.
In addition to the Saudi contracts, Saipem recently secured a significant offshore EPC contract from QatarEnergy, worth around $4bn.
This contract is a part of the North Field Production Sustainability Offshore Compression Programme aimed at maintaining the output of the North Field, a major offshore natural gas reservoir off the coast of Qatar.
Saipem's responsibilities include the engineering, procurement, fabrication and installation of six platforms, approximately 100km of corrosion-resistant alloy rigid subsea pipelines, 100km of subsea composite cables, 150km of fibre-optic cables, and other subsea facilities.
"Saipem secures $2bn field development contract from Saudi Aramco " was originally created and published by Offshore Technology, a GlobalData owned brand.
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