Saipem, the Italian oil and gas contracting firm, was awarded new offshore engineering and construction (E&C) contracts valued at more than $680 million Oct. 9.
The main contract came from the Kingdom of Saudi Arabia’s national oil company Saudi Aramco. To meet the requirements of that contract, Saipem will be in charge of engineering, procurement, transportation and the installation of offshore oil and gas structures.
That infrastructure includes building an observation platform, a wellhead production deck module, auxiliary platforms, an internally cladded flowline and a composite power cable. Offshore installation activities will be performed off Saudi Arabia’s coastline.
Saudi Aramco selected Saipem due to the company’s reputation for expertise in oil & gas-related activities in remote areas and deep waters. Saipem stands as a global leader in providing engineering, procurement, project management and construction services. Saipem will also put its experience with gas monetization and heavy oil exploitation into play for the project.
Work on the second Saipem contract will be on the East Hub Development Project in Angola. The scope of the projects includes the provision of five flexible risers and 20 kilometers of rigid flowlines. The company is also contracted to install SURF facilities, which include umbilical sections, rigid spools, well jumpers and 14 PLETs to be fabricated in Angola.
The project in Angola is slated to be completed by the end of 2016. No termination date has been provided for Saipem’s Saudi Aramco contract.
