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FINANCIAL NEWS
Aramco, Saipem sign US2.2b offshore contracts
13 Mar 2011
(MENAFN) Saudi Aramco stated that it awarded Saipem new engineering and construction (E&C) offshore contracts worth USD2.2 billion, reported Arabian Oil and Gas.
The contracts were part of Al Wasit Gas program, and they encompass the offshore growth of the two fields Hasbah and Arabiyah. The development of the fields would be completed when the engineering, fabrication, procurement and installation of 2 tie-in platforms, 1 injection platform, and 12 wellhead platforms are completed.
The upgrades also consist of 200 kilometers of mono-ethylene glycol (MEG) pipelines, a 36-inch 260-kilometres-long export trunkline, 40 kilometers of offshore flow lines, 120 kilometers of onshore pipelines, and 200 kilometers of sub-sea electric and control cables.
It is worth noting that Saipem has two different Business Units, one specializing in drilling and the other in engineering and construction. The Italy-based company is a well known designer and implementer of large-scale offshore and onshore projects, and provides project management, engineering and procurement.
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