Saipem lands $2bn contract with Saudi Aramco

Italy’s Saipem has won a new offshore contract worth around $2bn from Saudi Aramco, for the development of the Marjan field in Saudi Arabia.

The work scope covers the engineering, procurement, construction and installation (EPCI) of wellhead platforms’ topsides, wellhead platforms’ jackets, tie-in platform jacket and topside, rigid flowlines, submarine composite cables and fiber optic cables.

The award comes hot on the heels of another Marjan EPCI deal for three production deck modules, 33 km of subsea rigid pipelines and 34 km of subsea power cables, worth about $1bn.

Saipem said it would deploy its local offshore fleet, including dynamic positioning vessels. The fabrication activities will be executed at the Saudi fabrication yard Saipem Taqa Al-Rushaid Fabricators in Dammam.

“This important contract, at the backdrop of the recent awards by Saudi Aramco to Saipem, reinforces the company’s long-standing presence in the Kingdom of Saudi Arabia,” the Milan-listed offshore engineering and construction giant said in a filing.