Saipem contractors fit a pipe at a well in Angola.

Saipem wins contracts worth $250 million

ROME, September 11, 2015 – Saipem, a subsidiary of the Eni energy corporation, has won $250 million in contracts in Peru, Colombia, and Kuwait, it announced in a press release.

The state-owned company Kuwait National Petroleum Corporation has brought Saipem on board for their new Al-Zour New Refinery Project. This is the Italian contractor’s first foray into the Kuwaiti market. It was not specified which projects the Peru and Colombia contracts were for, but Saipem already has presence in both countries.

Saipem primarily works in offshore construction and engineering. The company has suffered ups and downs in the past few days – it announced an award of a $560 million contract to build a pipeline for Chile’s state mining corporation on September 3, and that it would cut 8,800 jobs over the next two years to respond to the worldwide drop in oil prices.

For more news and features on Kuwait, click here.
For more news and features on Colombia, click here.

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