On August 12, Italian offshore engineering giant Saipem announced via its official website that it had won an offshore engineering contract in the Middle East; details regarding the client and the specific project were not disclosed.
The contract is valued at approximately $1.8 billion, and Saipem’s scope of work covers engineering, procurement, construction, and installation (EPCI) services for offshore and subsea facilities; further details have not yet been released.
Saipem stated: “The project will leverage the company’s proven track record in delivering pipelines and offshore infrastructure in the region, as well as its local fleet and advanced engineering capabilities.”
This latest contract continues the strong order-winning momentum Saipem has maintained since the summer, with a contract value of approximately $5.2 billion.
In June, Saipem announced the award of a new offshore contract worth $1 billion from Azule Energy Exploration (Angola) and Azule Energy Angola B.V. Under the contract, the company will provide transportation and installation services for the Greater PAJ project, including the engineering, fabrication, transportation, and installation of approximately 180 kilometers of rigid subsea pipelines and subsea structures, as well as the transportation and installation of 38 kilometers of flexible flowlines and subsea jumpers and 54 kilometers of subsea umbilicals.
In July, a Saipem-led consortium secured the EPCI contract for the Floating Production, Storage, and Offloading (FPSO) unit for the Kutei North Hub development project.
Saipem’s share of the FPSO EPCI contract is valued at approximately $2 billion, with an estimated overall execution period of 48 months; the scope encompasses project management, detailed engineering, procurement, hull construction, onshore and offshore installation, as well as the commissioning and start-up of the FPSO unit.
Following the North Kutai Hub development project, Saipem has secured another contract worth $400 million under its existing long-term agreement with the Saudi giant Aramco.