Saipem Secures $1 Billion Worth of E&C Offshore Contracts
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Saipem has been awarded new contracts and change orders in the E&C offshore segment. The overall amount of the contracts is about $1bn.
In particular, the most significant are the notification of award by Saudi Aramco of two EPIC contracts (Engineering, Procurement, Installation, Construction), under the Long Term Agreement in force and renewed in 2015 until 2021 for activities in Saudi Arabia. These two contracts refer to, respectively, the development of fields in Marjan, Zuluf and Safaniya located in the Arabian Gulf, which are among the most important offshore fields in the Region. These contracts include the design, engineering, procurement, construction, installation and implementation of subsea systems in addition to the laying of pipelines, subsea cables and umbilicals, platform decks and jackets. Furthermore, the two contracts will also include additional maintenance and dismantling works on the existing platforms already operating in the fields.
“With these contracts, Saipem is further reinforcing its presence in the Middle East, a highly strategic area. New contracts from a long-standing customer like Saudi Aramco are also an important, strong mark of its trust in Saipem as - once again – the high quality of its services and its solid expertise in the construction and installation of offshore platforms is recognized,” stressed Stefano Cao, CEO of Saipem.
Source: (November 9, 2016) Energy Business Review
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