Energy, Oil & Gas

Saipem lands $1.25bn Middle East project contracts

Saipem, a leading engineering, drilling and construction company, said it has been awarded onshore and offshore contracts worth $1.25 billion across the Middle East region. 
 
Of these, four are offshore contracts worth $650 million which Saipem won from major Middle East clients for provision of engineering, procurement, construction and installation (EPCI) services for offshore jackets, decks, subsea pipelines, composite cables, umbilicals, fiber optic cables and brownfield modifications.
 
According to Saipem, the awards relate to the 10-year extension of existing contracts regarding four land-rigs located in the Middle East. 
 
The land rigs, with power ranging from 1,500 to 2,000 HP, will be employed for exploration and production activities in various oil and gas fields, in continuity with operations under execution in the area.
 
The first group of contracts concerns the extension of onshore drilling contracts in the Middle East for an overall amount of approximately $600 million, it added.