Saipem wins E&C, drilling contracts worth approximately $2 billion

Saipem wins E&C, drilling contracts worth approximately $2 billion

MILAN, Italy -- Saipem has been awarded a new engineering and construction contract in Saudi Arabia, and new drilling contracts in the Middle East and in Latin America, cumulatively valued at approximately $2 billion.

Saudi Aramco has awarded Saipem an EPC contract relating to the expansion of the onshore production centers at the Khurais, Mazajili and Abu Jifan fields.

The construction of new facilities will allow Aramco to process an additional 300,000 bopd from Khurais field, while the installation of new satellite facilities will reinstate production of 200,000 bopd from the Abu Jifan and Mazalij fields. The Khurais field is located about 150 km northeast of Riyadh; it is a giant oil field, 127 km long, and covers an area of 2,890 sq km.

Saipem built the majority of the original Khurais facilities, including the installation of four separation units, all the utilities, the seawater treatment plant and various seawater pipelines.

In drilling, Saipem has secured a new contract for the Perro Negro 7 jackup, operating offshore in the Middle East, starting in November 2015 and running until the end of 2018.

Saipem has also been awarded, by different clients, new contracts relating to nine onshore drilling rigs, operating in the Middle East and in Latin America. The contracts have been signed under different terms, varying from three months to three years, and starting at different dates during 2014 and 2015.