Italy’s Saipem Secures $4.1 Billion Contract for Offshore Project in UAE
Credit: Saipem
Italy’s Saipem, in consortium with Abu Dhabi’s National Petroleum Construction Company (NPCC), has signed today a letter of award with ADNOC for an offshore construction contract related to the freshly sanctioned Hail and Ghasha Development Project in the United Arab Emirates.
Saipem’s share of the contract, awarded at the ADIPEC exhibition and conference in Abu Dhabi, amounts to around $4.1 billion.
The project is aimed at developing the resources of the Hail and Ghasha natural gas fields, located offshore Abu Dhabi, UAE.
Hail and Ghasha are part of Abu Dhabi’s Ghasha Concession which is set to produce more than 1.5 billion standard cubic feet per day (bscfd) of gas before the end of the decade.
The project scope of work encompasses the Engineering, Procurement and Construction (EPC) of four drilling centers and one processing plant to be built on artificial islands, as well as various offshore structures and more than 300 km of subsea pipelines.
“The award is in line with Saipem’s unique capability to deliver integrated onshore and offshore projects, providing its clients with a single and reliable interface for complex full-field developments. Saipem will leverage on its state-of-the-art shallow water offshore vessels, its advanced welding technology for corrosion resistant materials, as well as its renowned engineering expertise,” Saipem said.
Separately, ADIPEC said that the whole EPC contract for the offshore facilities includes facilities on artificial islands and subsea pipelines and is worth approximately $8.2 billion (AED 30 billion).
