Prime Highlights:
- Saipem secured a major $500 million offshore contract, strengthening its long-term partnership with Aramco.
- The project supports Saudi Arabia’s push to expand energy infrastructure and increase local industry participation.
Key Facts:
- The contract includes engineering, construction, and installation of a 48-inch pipeline spanning 65 km offshore and 12 km onshore.
- Work will take place at the Safaniya Oil Field, one of the world’s largest offshore oil fields.
Background:
Italian oilfield services company Saipem has won a $500 million offshore contract from Aramco, strengthening its presence in Saudi Arabia.
The contract covers the engineering, procurement, construction, and installation of a 48-inch trunkline stretching about 65 kilometres offshore and 12 kilometres onshore. The project also includes associated subsea facilities at the Safaniya Oil Field, one of the world’s largest offshore oil fields.
Saipem said it will deploy its construction vessels already operating in the region to carry out offshore works. The company will execute fabrication activities at its Saudi yard, Saipem Taqa Al-Rushaid Fabricators Co. Ltd., located in Dammam. By using local facilities and resources, the project will contribute to the Kingdom’s efforts to raise localization levels in the oil and gas sector from 40 percent to 75 percent by 2030.
Company officials noted that the project builds on Saipem’s long-standing partnership with Aramco and reflects the trust placed in its engineering and project delivery capabilities. The company will use its regional experience in building offshore pipelines and infrastructure to complete the project efficiently.
Saipem said it will follow strict safety, quality, and environmental standards, while keeping operations smooth from design to final installation.
The project also supports Saudi Arabia’s plan to expand and modernize its energy sector. By using strong technical skills and local resources, it is expected to improve key offshore facilities in the Kingdom.
Listed on the Milan Stock Exchange, Saipem works across areas such as offshore engineering, drilling, energy transport, offshore wind, and sustainable infrastructure, with operations in more than 50 countries.
