Saipem (SPM) Awarded Offshore Qatar Contract Worth About $4 Billion - Bloomberg
Saipem SpA was awarded an offshore Engineering, Procurement and Construction contract by QatarEnergyLNG worth about $4 billion.
The contract is aimed at sustaining the production of the North Field offshore natural gas reservoir in Qatar, the company said in a statement.
Saipem’s scope of work encompasses the engineering, procurement, fabrication and installation of six platforms as well as approximately 100 km (62 miles) 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 company said.
Saipem is seeking to widen its reach in the Middle East under Chief Executive Officer Alessandro Puliti, appointed in 2022, after the company announced a profit warning earlier that year.
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