ALBAWABA – Saipem, the Italian multinational oilfield services company, announced winning a contract worth $4 billion from QatarEnergy, formerly Qatar Petroleum and the state-owned petroleum company of Qatar.
Saipem wins $4 billion contract
Saipem stated that the new contract will enhance production in QatarEnergy's North Field, located off the northeastern coast of Qatar.
It is worth noting that Qatar previously unveiled plans for an expansion project aimed at increasing gas production in the North Field from 77 million tons per year to 142 million tons per year by 2030.
Saipem stated that the new contract will enhance production in QatarEnergy's North Field, located off the northeastern coast of Qatar. (Shutterstock)
According to sources, the new contract includes engineering, procurement, fabrication, and installation of six platforms in the North field as the contract aims to boost productivity and provide sustainability.
Additionally, 100 kilometers of corrosion-resistant alloy rigid subsea pipelines, 100 kilometers of subsea composite cables, 150 kilometers of fiber optic cables, and various other subsea facilities.
Saipem other projects
Furthermore, Saipem announced earlier this month that it had won two projects in Saudi Arabia in the field of marine works, with a total value estimated nearly one billion dollars.
The two projects are part of a long-term agreement with Aramco, the Saudi Arabian Oil Group, a state-owned petroleum, and natural gas company that is the national oil company of Saudi Arabia.
