Saipem secures new Saudi Armco order and Angola FPSO extension

Italy’s Saipem has announced new contracts totalling $500m from the Middle East, Africa and Caspian Sea.

The first project is related to a new E&C Offshore contract by Saudi Aramco for EPCI activities and trunklines & installation works in Saudi Arabia, under the long-term agreement in force. The scope of work includes the design, engineering, procurement, construction and installation of a total of 19 jackets for the development of fields in Marjan, Zuluf, Berri, Hasbah, and Safaniya, among the most important offshore fields in the region of the Arabian Gulf.

“With this award, Saipem is further reinforcing its presence in a highly strategic area such as the Middle East,” commented Stefano Cao, CEO of Saipem.

Additionally, the Italian contractor has negotiated the extension in Angola of the deployment of FPSO Gimboa, inclusive of management and maintenance services, personnel, material and consumable supplies for three years, with an option for an additional year.

Saipem also announced some changes to orders for projects in West Africa and in the Caspian Sea.


Nicola Capuzzo

Nicola is a highly qualified journalist focused on transport economics, logistics and shipping with broad experience in both online and printed media. Specialties: shipping, ship finance, banking, commodities and port economics. He regularly interviews Europe's top shipowner executives for Maritime CEO magazine.
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