Italian engineering and construction giant Saipem has been awarded new offshore contracts in the Middle East and Guyana, with a total value of approximately $730 million. Among the clients is U.S. energy major ExxonMobil.
One of the contracts involves engineering, procurement, construction, and installation (EPCI) work to repair subsea pipelines for a major—yet undisclosed—client in the Middle East. Saipem stated that the project, expected to span three years, highlights the growing significance of maintaining existing offshore fields. This aligns with the company’s broader strategy, which includes EPCIC (engineering, procurement, construction, installation, and commissioning) and EPRD (engineering, preparatory works, removal, and disposal) services.