Saipem secures two offshore contracts worth US$500 million from Aramco
Published by Elizabeth Corner,
Senior Editor
World Pipelines,
Saipem has secured two offshore contracts worth approximately US$500 million (€458.66 million) in Saudi Arabia through its ongoing long-term agreement (LTA) with Saudi Aramco.
The Italian oilfield services company’s first EPCI contract involves a 42 in. diameter, 50 km crude trunkline for the Abu Safa field, an offshore oilfield shared by Bahrain and Saudi Arabia.
The Abu Safa Field, with a production capacity of 300 000 bpd divided equally between Bahrain and Saudi Arabia, produces sour medium crude oil.
According to GlobalData, the field has recovered 86.32% of its total recoverable reserves and is expected to continue production until 2055.
It currently contributes about 2% to the nation's daily output.
The second contract focuses on the production maintenance programmes for the Berri and Manifa Fields.
The Berri field, discovered in 1964, spans both onshore and offshore areas along Saudi Arabia's eastern coast.
The Manifa field, discovered in 1957, is a six reservoir field in shallow waters.
Saipem stated that the award of these projects further consolidates its positioning in the Middle East.
Last week, the company, as a member of a consortium, secured a US$300 million contract from bp for subsea construction in Azerbaijan's sector of the Caspian Sea.
Saipem is the leader of the consortium, which includes BOS Shelf and BOS Shelf International FZCO as partners.
Saipem's responsibilities include operating the SCV Khankendi vessel, providing the crew and executing marine activities for the Shah Deniz and Azeri-Chirag-Gunashli oilfields.
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Read the article online at: https://www.worldpipelines.com/contracts-and-tenders/16072024/saipem-secures-two-offshore-contracts-worth-us500-million-from-aramco/
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