Saipem Secures $1B in New Contracts for Offshore Activities in Middle East and Subsea Drone Project in Brazil

Saipem has been awarded two new contracts, one for EPCI offshore activities in the Middle East and the other for the development of underwater drones in Brazil. The total value of the new contracts is approximately $1 billion.

Under the existing Long-Term Agreement (LTA) with Saudi Aramco, Saipem has been selected for a new offshore project. 

The scope of work involves the engineering, procurement, construction, and installation of five platforms and associated subsea pipelines, flowlines, and cables in the Marjan field, offshore Saudi Arabia, featuring “an entirely in-Kingdom fabrication scheme.” 

The contract is subject to the fulfillment of the customary conditions precedent.

Furthermore, Saipem has been awarded a contract by Petrobras for the development and testing of an autonomous subsea inspection robotic solution, which will be based on Saipem’s fleet of underwater drones, starting from the Flatfish AUV, as well as the qualification of related autonomous drone-based services, enabling future inspection contract options offshore Brazil.

“This contract marks a fundamental milestone for Saipem’s innovative underwater robotics program and for the global scale utilization of subsea drones in offshore projects throughout the entire value chain, and it allows to extend to the new features to the Technology Readiness Level 7 (TRL7) achieved on Saipem’s fleet of subsea drones. The potential of these subsea technologies within the offshore domain is vast, both for oil and gas developments as well as for the renewables market segment,” Saipem said.