-- Saipem said Thursday it secured offshore contracts worth about $400 million in Saudi Arabia, expanding work at the Safaniya oil field under its long-term deal with Aramco.
The awards, issued as Contract Release Purchase Orders, fall under an existing agreement with Saudi Aramco and cover engineering, procurement, construction and installation activities.
One contract includes building a water injection tie-in platform, two wellheads, about 5 kilometers of pipelines and roughly 15 km of subsea power cables, Saipem added.
The second contract covers the installation of four additional water injection wellheads along with related subsea infrastructure at the Safaniya field, Saipem said.
Saipem will deploy construction vessels already operating in the region to execute offshore work, supporting efficient project delivery timelines.
Fabrication will be carried out at its Saudi yard through Saipem Taqa Al-Rushaid Fabricators, reinforcing local industry development and strengthening its partnership with Aramco, according to Saipem.
The awards strengthen Saipem's position in Saudi Arabia and deepen its long-standing partnership with Aramco, the company said.