MILAN (ChatnewsTV) — Italian engineering and construction giant Saipem has been awarded a $2 billion contract for the development of the Marjan oil and gas field off the coast of Saudi Arabia, the company announced Thursday. The deal, part of a long-term agreement with Saudi energy powerhouse Aramco, reinforces Saipem’s strong presence in the Kingdom.
The contract covers the engineering, procurement, construction, and installation of platforms, flowlines, and fiber optic cables for the Marjan field, one of the largest in the region. Saipem’s local fleet and advanced technology will be utilized to complete the work, which includes operations at Saipem’s STAR yard in Dammam.
This follows several other lucrative contracts Saipem secured in Saudi Arabia earlier this year, including $500 million for offshore work at three fields and $1 billion for engineering and installation projects.
“This new award further strengthens our relationship with Saudi Aramco and highlights our capabilities in executing complex offshore projects in the region,” Saipem said in a statement.
Saipem’s work on the Marjan field comes on the heels of a $4 billion offshore contract in Qatar aimed at sustaining natural gas production from the world’s largest field.
Aramco has been heavily investing in boosting production at the Marjan field, with major contracts awarded in recent years to both Saipem and other international firms as part of the field’s development program.
