Saipem Bags $400M in Offshore Contracts from Aramco in Saudi Arabia

(Credit: Saipem)

Saipem has secured two offshore contracts in Saudi Arabia worth about $400 million under an existing long-term agreement with Saudi Aramco.

The contracts, known as Contract Release Purchase Orders, relate to work at the Safaniya oil field, one of the world’s largest offshore oil fields.

The first contract covers engineering, procurement, construction and installation of a water injection tie-in platform, two water injection wellheads, about 5 km of 24-inch pipelines and around 15 km of 15kV cables.

The second contract includes EPCI work for four water injection wellheads and associated subsea facilities.

According to Saipem, the offshore operations will be carried out using construction vessels already deployed in the region, while fabrication will take place at its Saudi yard operated by Saipem Taqa Al-Rushaid Fabricators.

The company said the awards strengthen its presence in Saudi Arabia and reinforce its relationship with Aramco.