Saipem has been awarded engineering and construction contracts valued at a total of $690 million, the Italian engineering and construction company announced on Friday.

Saipem awarded $690 million in contracts

MILAN, October 9, 2015 – Saipem has been awarded engineering and construction contracts valued at a total of $690 million, the Italian engineering and construction company announced on Friday.

Saipem clinched an engineering, procurement, construction and installation (EPCI) contract from national oil company Saudi Aramco for offshore structures in the Saudi Arabia’s Karan development. These structures include an observation platform, a wellhead production deck module, auxiliary platforms and a power cable.

Saipem secured a second EPCI contract from Eni for the East Hub Development project, which is located about 350 kilometres northwest of Luanda, Angola. Under the terms of the EPCI contract, Saipem will provide surface facilities including five flexible risers and 20 kilometres of flowlines. This project is slated for completion for the end of 2016.

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