Saipem: new orders in Saudi Arabia

Saipem: new orders in Saudi Arabia

The CDP Equity affiliate has won two EPIC contracts valued at 1.3 billion dollars to work on the development of offshore fields in Berri and Marjan

Rome January 22, 2019

New Saipem contracts just signed in Saudi Arabia confirm the Italian company’s role as a global leader in the oil field services sector.

Saipem ,controlled by CDP Equity, won the two EPIC contracts (Engineering, Procurement, Installation, Construction) for valued at 1.3 billion dollars, allocated by customer Saudi Aramco (the Saudi national Saudioil & gascompany) within the context of the Long Term Agreement in force until 2021.

Saipem will see to the development of offshore fields in Berri and Marjan (some of the most important offshore fields in Saudi Arabia), specifically taking care of the design, procurement, construction and installation of submarine systems, but also laying pipelines, cables and umbilicals and relative platforms.

The recently signed contracts confirm Saipem's commitment in one of the main markets for the oil & gas sector, with a view to growth, development and innovation. One more step on the road marked by the CDP Group Business Plan 2019-2021, where strategic holdings serve to support the national economy

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