Saipem wins US$2.2bn in Saudi offshore contracts
Saipem to provide engineering & construction for Al Wasit Gas Program
Saipem has been awarded new Engineering & Construction (E&C) Offshore contracts in Saudi Arabia worth in excess of US$2.2 billion, the company announced on Wednesday.
Saudi Aramco awarded the EPIC (engineering, procurement, installation and commissioning) contract, in the framework of the Al Wasit Gas Program, encompassing the offshore development of the Arabiyah and Hasbah fields, located approximately 150 kilometres northeast of Jubail industrial city, in the Arabian Gulf.
The complete development of the two fields encompasses the engineering, procurement, fabrication and installation of a total of 12 wellhead platforms, 2 tie-in platforms and 1 injection platform. The work will also include a 36-inch 260-kilometres-long export trunkline and approximately 200 kilometres of mono-ethylene glycol (MEG) pipelines, 200 kilometres of subsea electric and control cables and 40 kilometres of offshore flowlines. The scope of work also includes the shore approaches and about 120 kilometres of onshore pipelines.
The fabrication activities will be mainly carried out in the Saudi Kindom's yards in Dammam, which is participated in by Saipem in a consortium with Saudi partners and for larger structures, in the Saipem’s newly-built Karimun yard in Indonesia.
The offshore activities will be performed mainly by the Castoro II and Castoro Otto vessels.
In addition to this, Saipem has agreed with its clients various increases in the scope of its work on existing E&C Offshore contracts.
Saipem is organised into two Business Units: Engineering & Construction and Drilling, with a strong bias towards oil & gas related activities in remote areas and deepwater. The Italian company is a provider of engineering, procurement, project management and construction services with capabilities in the design and execution of large-scale offshore and onshore projects, and technological competences such as gas monetisation and heavy oil exploitation.