Saipem, the Italian energy engineering group, has announced the award of a $2 billion offshore contract for the development of Saudi Arabia’s Marjan oil field. The contract was signed under an existing long-term agreement with Saudi Aramco, the state oil giant.
This new project strengthens Saipem’s ongoing partnership with Aramco. Earlier this month, Saipem secured two additional offshore contracts with Aramco valued at approximately $1 billion in total. The company also recently signed a $4 billion offshore contract with QatarEnergy, a leading global supplier of liquefied natural gas (LNG).
Under the terms of the new agreement, Saipem will provide a comprehensive range of services, including the engineering, procurement, construction, and installation of wellhead platforms’ topsides, jackets for the platforms, a tie-in platform, rigid flowlines, and submarine composite and fiber optic cables.