Italy’s Saipem wins offshore contract worth $2bn in Saudi Arabia

Image credit: Saipem

Italian energy engineering group Saipem said on Wednesday it had won an offshore contract worth around $2bn for the development of the Marjan oil field in Saudi Arabia.

The contract was signed under the existing long-term agreement with oil giant Saudi Aramco, the company said in a statement.

Saipem said earlier this month that it had won two other offshore contracts with Saudi Aramco, worth about $1bn in total, and an offshore contract worth $4bn with QatarEnergy, one of the world’s top LNG suppliers.

Under the deal, Saipem said it would provide “engineering, procurement, construction and installation of wellhead platforms’ topsides, wellhead platforms’ jackets, tie-in platform jacket and topside, rigid flowlines, submarine composite cables and fibre optic cables.

Read: Italy’s Saipem secures $4bn contract from QatarEnergy