Saipem Wins New E&C Offshore Contracts Worth In Excess of $2.2 Billion

Wednesday, March 09, 2011

San Donato Milanese (Milan), 9 March 2011 – Saipem has been awarded new E&C Offshore contracts worth in excess of $2.2 billion.

In Saudi Arabia, Saudi Aramco awarded the EPIC contract, in the framework of the Al Wasit Gas Program, encompassing the offshore development of the Arabiyah and Hasbah fields, located approximately 150 kilometres northeast of Jubail industrial city, in the Arabian Gulf.

The complete development of the two fields encompasses the engineering, procurement, fabrication and installation of a total of 12 wellhead platforms, 2 tie-in platforms and 1 injection platform, besides to a 36 inches 260-kilometres-long export trunkline and approximately 200 kilometres of mono-ethylene glycol (MEG) pipelines, 200 kilometres of subsea electric and control cables and 40 kilometres of offshore flowlines. The scope of work also includes the shore approaches and about 120 kilometres of onshore pipelines.

The fabrication activities will be mainly carried out in the yards of Dammam, Saudi Arabia, which is participated by Saipem in consortium with Saudi partners and, for what concerns the larger structures, in the Saipem’s newbuilt Karimun yard in Indonesia.

The offshore activities will be performed mainly by the Castoro II and Castoro Otto vessels.

Furthermore, Saipem has agreed with its clients various increases in the scope of its work on existing E&C Offshore contracts.

Saipem is organised into two Business Units: Engineering & Construction and Drilling, with a strong bias towards oil & gas related activities in remote areas and deepwater.  Saipem is a leader in the provision of engineering, procurement, project management and construction services with distinctive capabilities in the design and execution of large-scale offshore and onshore projects, and technological competences such as gas monetisation and heavy oil exploitation.

Source: Saipem

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