Saipem Secures $4 Billion Offshore EPC Contract from QatarEnergy

Saipem has been awarded a significant offshore EPC (Engineering, Procurement, and Construction) contract by QatarEnergy LNG, valued at approximately $4 billion. This contract pertains to the Combined COMP3A & COMP3B phases of the North Field Production Sustainability Offshore Compression Program. The initiative aims to maintain and enhance the production efficiency of the North Field, a significant offshore natural gas reservoir located off the northeast coast of Qatar.

The contract represents a comprehensive scope of work for Saipem, encompassing various critical components. The company will be responsible for the engineering, procurement, fabrication, and installation of six offshore platforms. In addition, Saipem is tasked with laying around 100 kilometers of corrosion-resistant alloy rigid subsea pipelines. These pipelines will come in two diameters: 28 inches and 24 inches. The project also involves the installation of approximately 100 kilometers of subsea composite cables and 150 kilometers of fiber optic cables, along with several other subsea facilities.

This new contract further builds upon Saipem's established expertise in Qatar. It follows the successful award of the EPC package for the North Field Production Sustainability Offshore Compression Complexes Project - COMP 2, which Saipem received in October 2022. The COMP 2 project is currently in progress and has contributed to Saipem’s solid track record in the region.

Overall, the $4 billion contract represents a significant milestone for Saipem and a major step forward in the development and sustainability of the North Field's production capabilities. The company's involvement in this high-profile project is expected to further solidify its role in the region and contribute to the ongoing advancement of Qatar's natural gas infrastructure

Saipem stands as a global frontrunner in engineering and construction for major energy and infrastructure projects, operating both offshore and onshore. The company functions as a unified entity, organized into distinct business lines: Asset-Based Services, Drilling, Energy Carriers, Offshore Wind, Sustainable Infrastructures, and Robotics & Industrialized Solutions. Saipem operates seven fabrication yards and boasts an offshore fleet comprising 21 construction vessels (17 owned by Saipem and 4 owned by third parties but managed by the company) and 15 drilling rigs, with 9 of these rigs owned by Saipem.

Dedicated to technological advancement, Saipem’s mission is “Engineering for a Sustainable Future.” The company focuses on aiding its clients in navigating the energy transition towards Net Zero emissions, employing cutting-edge digital tools, technologies, and processes designed for environmental sustainability. Saipem is publicly listed on the Milan Stock Exchange and has a global presence in over 50 countries. With a workforce of approximately 30,000 employees from more than 120 nationalities, Saipem continues to drive innovation and excellence in its field.