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Saipem wins new offshore contracts worth over $500 million

Energy engineering company Saipem has been awarded several engineering, procurement, construction and installation (EPCI) contracts around the world, worth over $500 million (€457.9 million) combined.

The first EPCI contract has been awarded by Saudi Aramco in Saudi Arabia, as part of a long-term agreement between the two companies. The scope of the offshore work includes the design, engineering, procurement, construction and installation of a 36-inch carbon steel pipeline onto the existing network around the Ju’aymah area, as well as brownfield services at the associated offshore platform.

The company has additionally won a contract from Eni Angola related to the Cabaça and Agogo Early Phase 1 developments. The work includes the EPCI of risers, production flowlines, jumpers and the installation of a subsea production system in water depths of up to 600m. This will be carried out by Saipem vessels FDS and Saipem 3000.

In Equatorial Guinea, Noble Energy has awarded Saipem a contract for the offshore installation of a 70km gas pipeline connecting the Alen Platform to Punta Europa on the cost.

Additional minor contracts received by Saipem relate to the decommissioning of existing infrastructure in the Thistle Field in the North Sea, which will be carried out by the Saipem 7000 vessel, as well as two offshore transportation and installation contracts in the Middle East and Gulf of Mexico.

“These new contract awards confirm the diversified nature of our core market segments and contribute to consolidating the historic relationship with our clients who know they can constantly rely on our support in order to pursue their safety, efficiency and reliability targets,” commented Francesco Racheli, COO of Saipem’s E&C offshore division. “A good start to the year for the E&C Offshore division and confirmation of the strategic positioning of the company in the Middle East and West Africa.”