Saipem scoops more than US$1bn of contracts in the Middle East

onshore oil rig reduced AdobeStock 310650242Saipem has been awarded several onshore and offshore contracts in the Middle East worth around US$1.25bn

They include the 10-year extension of existing onshore drilling contracts regarding four land-rigs in the Middle East worth around US$600mn. The land rigs, with power ranging from 1,500 to 2,000 HP, will be employed for exploration and production activities in various oil and gas fields, in continuity with operations under execution in the area.

Saipem has also been awarded four new contracts in the Middle East encompassing the engineering, procurement, construction and installation of several offshore jackets, decks, subsea pipelines, subsea composite cables, umbilicals, fibre optic cables and brownfield modifications. The combined value of the contracts is approximately US$650mn.

These follow the award of new contracts to Saipem in offshore drilling in the Middle East and in West Africa worth more than US$400mn in April. They include two contracts for two high specification jack-up drilling units in the Middle East, consisting of drilling and workover operations for a duration of five years.

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