Italy’s Saipem bags $500M contract in Saudi Arabia

Saipem secured the contract in Saudi Arabia under its existing long-term agreement with Aramco

Italy’s Saipem said it has been awarded an additional offshore contract worth approximately $500 million in Saudi Arabia under its existing long-term agreement with Saudi Arabian Oil Co. (Saudi Aramco).

The scope of work includes the engineering, procurement, construction and installation (EPCI) of a 48-inch trunkline, comprising approximately 65 km offshore and 12 km onshore, as well as associated subsea facilities in the Safaniya oil field, one of the world’s largest offshore oil fields, the company said in a statement.

Offshore operations will be carried out by Saipem’s construction vessels currently deployed in the region.

The fabrication activities will be executed at Saipem’s Saudi fabrication yard, Saipem Taqa Al-Rushaid Fabricators Co., in Dammam, the statement added.