Saipem wins Aramco contract

Saudi Arabia

MILAN, July 3, 2017 – Saipem has been handed a contract for jackets by Saudi Aramco, the Italian EPC firm announced on Monday.

“With this award, Saipem is further reinforcing its presence [in] a highly strategic area such as the Middle East,” CEO Stefano Cao said in a statement.

The contract covers 19 jackets on the Saudi Arabian NOC’s Safaniyah, Marjan, Berri, Hasbah and Zuluf fields. Its exact value was not disclosed, though the firm added in a press release that it had received around USD 500 million of contracts, including work in Angola, West Africa and the Caspian Sea.

The deal was struck under long-term agreements that were renewed by the two companies in 2015 for an additional six years.

Saipem reportedly beat out McDermott International, Dynamic Industries, a partnership between Larson & Toubro and Emas, and Abu Dhabi’s National Petroleum Construction Company for the tender, which was released in January 2017.

Read our latest insights on:

• Angola
• Saudi Arabia

Previous

Statoil hits oil in Barents Sea

Next

Iran signs milestone contract with Total