Saipem bagged deals worth more than $4 billion over the final part of December, releases sent to Rigzone by the company from December 21 to December 31 showed.
In a release sent to Rigzone on New Year’s Eve, Saipem said it had been awarded a new offshore contract by Turkish Petroleum OTC for additional activities as part of the extension of the third phase of the Sakarya gas field development project in Turkish sector of Black Sea. Saipem highlighted in that release that the value of the contract is approximately $425 million.
The company revealed in the release that its scope of work as part of the deal “encompasses the engineering, procurement, construction and installation (EPCI) of three additional pipelines, for a total of approximately 153 km [95 miles], with associated subsea structures, to connect the new natural gas reserve recently discovered at the Goktepe field to Sakarya phase 3 facilities”.
The Goktepe field lays in 2,200 meters (7,217 feet) of water depth approximately 80 km (49.7 miles) from the Sakarya phase 3 field, Saipem pointed out in the release, adding that the new infrastructure “will enable increased production from the field development”.
Saipem revealed in the release that the deal has a duration of approximately two and a half years. It added that the contract “will be managed in continuity with the contract signed in September 2025 for the third phase of the Sakarya field development”. The offshore campaign will be conducted by Saipem’s Castorone pipelay vessel in the second half of 2027, the company noted.
“The award of this new contract confirms Saipem’s position as a strategic partner for major projects in the country, while also contributing to the sustainable development of the Turkish energy market,” Saipem said in this release.
In another release sent to Rigzone on December 30, Saipem said it had been awarded two offshore contracts in Saudi Arabia worth approximately $600 million.
The company noted that the deals are known as Contract Release Purchase Orders (CRPO) and outlined that they were awarded under the company’s existing long-term agreement with Aramco.
“The first contract (CRPO 162), with a duration of 32 months, encompasses the Engineering, Procurement, Construction, and Installation (EPCI) of approximately 34 km [21 miles] of pipeline, with diameters of 20” and 30″, and related works on topside structures at the Berri and Abu Safah oil fields,” Saipem said in this release.
“The second contract (CRPO 165), lasting 12 months, includes subsea interventions at Marjan field and the EPC of 300 meters [984 feet] of onshore pipeline and associated tie-ins,” it added.
Saipem highlighted that, for offshore operations related to these two contracts, it will “employ its construction vessels that are currently deployed in the region”.
The fabrication activities related to the projects will be executed at Saipem’s Saudi fabrication yard, Saipem Taqa Al-Rushaid Fabricators Co. Ltd., in Dammam, Saipem noted in the release.
“The award of these new contracts strengthens Saipem’s presence in Saudi Arabia and further consolidates its longstanding relationship with Aramco,” the company said in this release.
In another release sent to Rigzone on December 21, Saipem revealed that it had been awarded an offshore EPCI contract in Qatar worth approximately $3.1 billion.
“Saipem, in partnership with Offshore Oil Engineering Co. Ltd. (COOEC), has been awarded an offshore EPCI contract by QatarEnergy LNG for the COMP5 package of the North Field Production Sustainability (NFPS) Offshore Compression Complexes project,” the company said in this release.
“The overall value of the contract is approximately four billion USD and Saipem’s share amounts to approximately 3.1 billion USD,” the company said.
Saipem pointed out in the release that the contract it was awarded has a total duration of approximately five years. Saipem revealed that this contract “comprises engineering, procurement, fabrication and installation of two compression complexes, each including a compression platform, a living quarter platform, a flare platform supporting the gas combustion system, and the related interconnecting bridges”.
Each complex will have a total weight of about 68,000 tons, according to Saipem, which said offshore installation operations will be carried out by its De He construction vessel “approximately in 2029 and 2030”.
“This new contract follows the EPCI COMP2 and COMP3 packages, awarded to Saipem and disclosed to the market in October 2022 and September 2024 respectively, which are currently under execution,” Saipem said in the release.
“The award of the COMP5 package consolidates Saipem’s collaboration with QatarEnergy LNG and reinforces the company’s presence in Qatar as a partner for the execution of complex large-scale projects,” it added.
Saipem noted in this release that the NFPS project is part of QatarEnergy LNG’s strategy of maintaining and increasing the production capacity of the North Field, “the world’s largest ‘non-associated’ natural gas field, located off the north-eastern coast of Qatar”.
To contact the author, email andreas.exarheas@rigzone.com
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