Saipem Secures Two Offshore Contracts in Saudi Arabia Valued at Around $1 billion

Saipem has been awarded two substantial offshore contracts in Saudi Arabia as part of its ongoing Long-Term Agreement with Saudi Aramco, with a combined value of approximately $1 billion.

The first contract encompasses the engineering, procurement, construction, and installation (EPCI) of several key infrastructure components for the Marjan oil and gas field. Specifically, Saipem will handle the design and implementation of three production deck modules (PDMs), which are critical for extracting and processing hydrocarbons. Additionally, the scope includes laying 33 kilometers of subsea rigid pipelines, which will vary in diameter between 12 and 16 inches, and installing 34 kilometers of subsea power cables to support the field’s operations. These activities are crucial for enhancing the field’s production capabilities and operational efficiency.

The second contract involves similar EPCI work for the Zuluf and Safaniyah oil fields. This contract will see Saipem constructing three jackets—structures that support the production platforms—and five PDMs. It also includes the installation of 22 kilometers of 16-inch diameter subsea rigid pipelines, five kilometers of subsea flexible pipelines, and 35 kilometers of subsea power cables. These components are essential for the development and operation of the infrastructure in these key oil fields.

For both projects, Saipem will utilize its construction vessels that are already active in the region, ensuring that the offshore operations are managed efficiently and effectively. The fabrication work related to these contracts will be conducted at Saipem’s fabrication yard in Saudi Arabia, known as Saipem Taqa Al-Rushaid Fabricators Co. Ltd. This facility is focused on enhancing and expanding local industry capabilities, contributing to the development of the regional economy and workforce.

The awarding of these contracts significantly strengthens Saipem’s position in Saudi Arabia and further solidifies its long-term partnership with Saudi Aramco. The company's focus on utilizing local resources and facilities highlights its dedication to fostering the growth and sustainability of the Saudi oil and gas industry, while also strengthening its strategic partnership with one of the world's foremost energy companies.

Saipem is a prominent global leader in the engineering and construction of major projects within the energy and infrastructure sectors, covering both offshore and onshore operations. Structured as a cohesive "One Company," Saipem operates through various business lines, including Asset Based Services, Drilling, Energy Carriers, Offshore Wind, Sustainable Infrastructures, and Robotics & Industrialized Solutions. The company boasts seven fabrication yards and an offshore fleet comprising 21 construction vessels—17 of which are owned by Saipem, with the remaining four owned by third parties and managed by the company. Additionally, Saipem operates 15 drilling rigs, nine of which are company-owned.

Committed to technological innovation, Saipem’s mission is “engineering for a sustainable future.” The company focuses on supporting its clients through the energy transition towards net-zero emissions by employing advanced digital technologies and sustainable processes. Saipem is listed on the Milan Stock Exchange and operates in over 50 countries, with a workforce of approximately 30,000 employees from more than 120 nationalities.