Saipem wins Saudi Aramco project services contract
RIYADH, April 4, 2023
Saipem, a major Italian oil and gas industry contractor, has announced that it secured a contract from Saudi oil giant Aramco to provide engineering, procurement, construction and installation (EPCI) services for an offshore platform topside and the associated subsea flexible, umbilical and cable system.
The contract has been awarded under Aramco's long-term agreement (LTA) programme.
Under the LTAs, contractors will be entrusted with the responsibility to deliver a huge number of offshore oil and gas producing platforms, tie-in platforms, pipelines, power cables, and all the related facilities required under the current Master Plan for Saudi Aramco's offshore fields.
The LTA contracts have a fixed duration of six years with options to be extended for up to twelve years in total.
Saipem said the Aramco LTA was one among the key projects clinched by the group early this year under the $650 million contracts.
It bagged two other offshore contracts (in African nation of Angola and Aberdeen in UK) in addition to two competitive Feed contracts for gas development projects - one in Trinidad & Tobago and the other in Papua New Guinea.-TradeArabia News Service
