Saipem Bags $2B Saudi Aramco Contract for Marjan Field
September 18, 2024
Italian offshore energy services firm Saipem has secured a new offshore contract, under the existing Long-Term Agreement (LTA) with Saudi Aramco, for the development of the Marjan field in Saudi Arabia.
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.
The contract, valued at approximately $2 billion, follows the completion of the bidding procedure, and the occurrence of the usual preliminary conditions requested by the client.
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.
Furthermore, the fabrication activities will be executed at the Saudi fabrication yard Saipem Taqa Al-Rushaid Fabricators (STAR), located in Dammam, further enhancing the local content and developing the capabilities of the local industry.
To remind, Saipem secured contracts from Saudi Aramco for work at Marjan, and Zuluf and Safaniyah oil fields, earlier in September, whose combined worth is $1 billion.
The Marjan field is located in the Arabian Gulf, off Saudi Arabia's East Coast, and is one of the largest oil and gas fields in the region.
