Saipem secures $1.8 billion Middle East offshore EPCI contract
Saipem has secured an approximately $1.8 billion offshore EPCI contract in the Middle East covering engineering, procurement, construction and installation of offshore and subsea facilities. The contractor said the work will draw on its regional vessels and engineering capabilities, but did not identify the client, project, exact location or execution schedule.
Saipem said it has been awarded an offshore engineering, procurement, construction and installation contract valued at approximately $1.8 billion in the Middle East. Its scope includes offshore and subsea facilities, indicating a substantial package of engineering, procurement, fabrication and marine installation work.
The company said the project will use its regional vessels and experience in pipeline and offshore infrastructure delivery. Depending on the still-undisclosed facilities and schedule, the award could generate demand across the subsea equipment, pipeline, fabrication and offshore construction vessel supply chains.
Saipem reports an overall fleet of 17 owned construction vessels and 12 drilling rigs, nine of which are owned. The announcement did not specify which vessels will execute the new contract or disclose the client, project name, precise location, contract duration or planned offshore campaign dates.