Saipem inks $500m Saudi Aramco EPCI contracts

5 July 2017

Italian contractor Saipem has won $500 million contracts from state oil giant Saudi Aramco for EPCI (engineering, procurement, construction and installation) activities at major offshore oilfields.

The long-term agreement in force, renewed in 2015 until 2021, also covers T&I (trunklines and installation) in Saudi Arabia, for Aramco.

The scope of work includes the design, engineering, procurement, construction and installation of a total of 19 jackets for the development of fields in Marjan, Zuluf, Berri, Hasbah, and Safaniya, among the most important offshore fields in the region of the Arabian Gulf.

On the win, CEO Stefano Cao said: "With this award, Saipem is further reinforcing its presence a highly strategic area such as the Middle East."

"The new contracts assigned by a long-standing customer like Saudi Aramco are also a strong and tangible sign of a major client’s trust in Saipem, in the high quality of its services and in the solid expertise the company can ensure in the construction and installation of offshore platforms," he added.

Saipem is one of the world leaders in drilling services, as well as in the engineering, procurement, construction and installation of pipelines and complex projects, onshore and offshore, in the oil and gas market.

Additionally, it has negotiated the extension in Angola of the deployment of vessel FPSO Gimboa, inclusive of management and maintenance services, personnel, material and consumable supplies for three years, plus one optional year.