Posted on July 17, 2024
Saipem has secured two significant offshore contracts in Saudi Arabia through its established Long-Term Agreement (LTA) with Saudi Aramco, highlighting its robust partnership and operational expertise in the region. The combined value of these projects totals approximately 500 million USD, underscoring Saipem’s strategic positioning in the global energy sector.
These endeavors not only reinforce Saipem’s longstanding collaboration with a key industry player but also demonstrate its ability to deliver complex Engineering, Procurement, Construction, and Installation (EPCI) at scale. This milestone reinforces Saipem’s commitment to sustainable growth and operational excellence in the competitive offshore oil and gas market.
Saipem’s involvement in these projects encompasses comprehensive tasks across two distinct scopes. In the first project, Saipem is tasked with the Engineering, Procurement, Construction, and Installation (EPCI) of a 50 km crude trunkline, boasting a 42″ diameter, specifically tailored for the Abu Safa Field. This initiative underscores Saipem’s capability in large-scale infrastructure development within challenging environments. Concurrently, in the second project, Saipem oversees crucial production maintenance programs aimed at optimizing operations in the Berri and Manifa Fields. These efforts highlight Saipem’s strategic role in enhancing efficiency and sustainability across major oil and gas operations in the region.
By securing these substantial projects, Saipem not only bolsters its existing partnership with Saudi Aramco, but also reinforces its position as a key player in the Middle Eastern oil and gas sector. The projects themselves encompass a broad range of expertise, including engineering, procurement, construction, and installation – showcasing Saipem’s well-rounded capabilities across the entire offshore development process. This comprehensive service offering positions them favorably for future opportunities in the region.
Saipem, a global leader in energy and infrastructure projects, offers comprehensive solutions across both offshore and onshore sectors. Structured as a “One Company” model, their business lines encompass Asset Based Services, Drilling, Energy Carriers, Offshore Wind, Sustainable Infrastructures, and Robotics & Industrialized Solutions.
Equipped with a network of 7 fabrication yards and a robust fleet of vessels and drilling rigs, Saipem possesses the resources to tackle complex projects. Innovation is paramount, as evidenced by their commitment to “Engineering for a sustainable future.” This translates to supporting clients on their journey towards Net Zero emissions, leveraging digital tools, advanced technologies, and environmentally friendly processes. A publicly traded company with a global presence (operating in over 50 countries) and a diverse workforce of 30,000, Saipem is well-positioned to be a key player in the evolving energy landscape.
Saipem’s recent contract wins in Saudi Arabia underscore its strategic alignment with Saudi Aramco and its capacity to execute complex offshore projects. With a combined value of approximately 500 million USD, these contracts solidify Saipem’s role as a key player in delivering high-value EPC solutions in the energy sector.
