Italian energy contractor Saipem has been awarded a $4 billion offshore engineering, procurement and construction (EPC) contract by state-run QatarEnergy LNG for the combined COMP3A & COMP3B of the North Field Production Sustainability Offshore Compression Programme.
The contract will help sustain the production of the North Field offshore natural gas reservoir, located offshore the northeast coast of Qatar.
Saipem’s scope of work encompasses the engineering, procurement, fabrication and installation of six platforms as well as nearly 100 km of corrosion resistance alloy rigid subsea pipelines, 100 km of subsea composite cables, 150 km of fiber optic cables and several other subsea facilities.
The EPC package for the North Field Production Sustainability Offshore Compression Complexes Project (COMP 2) was awarded to Saipem in October 2022, which is currently being executed.
Saipem won two offshore contracts in Saudi Arabia worth $1 billion this month under an existing long-term agreement with Saudi Aramco.
The company has seven fabrication yards and an offshore fleet of 21 construction vessels, of which 17 are owned and four are owned by third parties and managed by Saipem. It also has 15 drilling rigs, of which nine are owned.
(Editing by Anoop Menon) (anoop.menon@lseg.com)
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