Saipem wins drilling and E&C contracts in the Middle East worth $1.2 billion

Italian engineering and construction giant Saipem has been awarded several onshore and offshore contracts in the Middle East worth approximately US $1.25 billion, the company said.

Of these, the first group of contracts concerns the extension of onshore drilling contracts in the Middle East for an overall amount of approximately $600 million, Saipem said in a statement.

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, Saipem said.

The company did not identify the clients in the contract, but said that the land rigs, with power ranging from 1500 to 2000 hp, will be employed for exploration and production activities in various oil and gas fields, “in continuity with operations under execution in the area.”

Another clutch of four new contracts in the Middle East encompass the engineering, procurement, construction and installation of several offshore jackets, decks, subsea pipelines, subsea composite cables, umbilicals, fiber optic cables and brownfield modifications, the company said. The combined value of these contracts is worth $650 million.