Italy’s Saipem clinches $2bn offshore contract in Saudi Arabia

NOHA.GAD
Sep 19, 2024

Riyadh - Sharikat Mubasher: Italy’s Saipem, a global engineering and construction leader, won a new offshore contract worth around $2 billion, under the existing Long-Term Agreement (LTA) with Saudi Aramco, for the development of the Marjan field in Saudi Arabia.

In a statement, the company clarified that its scope of work includes 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 Italian company will deploy its local offshore fleet, including state-of-the-art dynamic positioning vessels and its advanced welding technology, leveraging its renowned engineering expertise.

Saipem will also execute the fabrication activities at the Saudi fabrication yard Saipem Taqa Al-Rushaid Fabricators Company (STAR) in Dammam.

Moreover, this contract will contribute to enhancing the local content, developing the capabilities of local industry, and solidifying Saipem’s long-standing presence in Saudi Arabia.


Share

Related News

After Goldman, Lazard lands Mideast HQ in Saudi Arabia
News
Calendar Icon
September 19, 2024
After Goldman, Lazard lands Mideast HQ in Saudi Arabia
readmore
Italy’s Saipem clinches $2bn offshore contract in Saudi Arabia
News
Calendar Icon
September 19, 2024
Italy’s Saipem clinches $2bn offshore contract in Saudi Arabia
readmore
ACWA Power to establish $1.5bn wind station project in Egypt
News
Calendar Icon
September 19, 2024
ACWA Power to establish $1.5bn wind station project in Egypt
readmore
Roshn Group, Environment Fund enhance sustainable building innovation
News
Calendar Icon
September 19, 2024
Roshn Group, Environment Fund enhance sustainable building innovation
readmore
Almadinah Almunawarah Chamber hosts “Entrepreneurship Forum” with S.Korean presence
News
Calendar Icon
September 19, 2024
Almadinah Almunawarah Chamber hosts “Entrepreneurship Forum” with S.Korean presence
readmore
EVIQ pacts with Solutions Valley to boost EV adoption in Kingdom
News
Calendar Icon
September 19, 2024
EVIQ pacts with Solutions Valley to boost EV adoption in Kingdom
readmore
Sure renews SAR 37mn credit facility deal with SNB
News
Calendar Icon
September 19, 2024
Sure renews SAR 37mn credit facility deal with SNB
readmore
Dammam hosts 5th Saudi Maritime, Logistics Conference
News
Calendar Icon
September 18, 2024
Dammam hosts 5th Saudi Maritime, Logistics Conference
readmore
Sharaka launches “Sharaka ventures” fund for fintech investments
News
Calendar Icon
September 18, 2024
Sharaka launches “Sharaka ventures” fund for fintech investments
readmore
IBM launches Himma to upskill Saudi tech leaders
News
Calendar Icon
September 18, 2024
IBM launches Himma to upskill Saudi tech leaders
readmore