Saipem Awarded Offshore Contract in Saudi Arabia Worth$2bn

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(Energy Analytics Institute, 16.Sep.2024) — Saipem has been awarded a new offshore contract worth $2bn, under the existing Long-Term Agreement (LTA) with Saudi Aramco, for the development of the Marjan field in Saudi Arabia.

The award follows the completion of the bidding procedure, and the occurrence of the usual preliminary conditions requested by the client, Saipem said 16 Sep. 2024 in an official statement.

Saipem’s scope of work involves the engineering, procurement, construction and installation of wellhead platforms’ topsides, wellhead platforms’ jackets, tie-in platform jacket and topside, rigid flowlines, submarine composite cables and fiber optic cables.

Saipem will deploy its local offshore fleet, including state-of-the-art dynamic positioning vessels, its advanced welding technology and will leverage on its renowned engineering expertise. The fabrication activities will be executed at the Saudi fabrication yard Saipem Taqa Al-Rushaid Fabricators Co. Ltd (STAR), located in Dammam, further enhancing the local content and developing the capabilities of the local industry.

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By Aaron Simonsky. © Energy Analytics Institute (EAI). All Rights Reserved.

ENERGY ANALYTICS INSTITUTE (EAI) https://energy-analytics-institute.org

Energy Analytics Institute (EAI), formerly LatinPetroleum.com, is a Houston-established private organization with a satellite presence in Calgary, Mexico City and Venezuela where it operates under Editores LatinPetroleum SA. Since 1999, EAI has been a leader in energy news coverage of Latin America in particular. Coverage, run out of Latin America, now spans the world and encompasses nearly all energy and energy-related sectors.

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