Saipem signs $1bn contract with Aramco
Saipem awarded contracts by Saudi Aramco including two EPIC
Saipem has been awarded new contracts with an overall amount of about US$1bn, with two major deals awarded by Saudi Aramco, according to media reports.
In particular, the most significant are the notification of award by Saudi Aramco of two EPIC (engineering, procurement, installation, construction) contracts under the long term agreement in force and renewed in 2015 until 2021 for activities in Saudi Arabia, Saipem said.
These two contracts are for the development of fields in Marjan, Zuluf and Safaniya located in the Gulf. These contracts include the design, engineering, procurement, construction, installation and implementation of subsea systems in addition to the laying of pipelines, subsea cables and umbilicals, platform decks and jackets. Furthermore, the two contracts will also include additional maintenance and dismantling works on the existing platforms already operating in the fields.
“With these contracts, Saipem is further reinforcing its presence in the Middle East, a highly strategic area,” Stefano Cao, CEO of Saipem said.