Saipem Wins Its Largest-ever Offshore Contract

Italian energy industry engineering and construction firm Saipem said Thursday it had secured the largest single offshore contract by total value in the company’s history.

The company has won a contract with Qatargas for the North Field Production Sustainability Offshore Compression Complexes Project – EPC 2 located offshore the northeast coast of Qatar. The contract value amounts to approximately $4.5 billion.

The scope of work encompasses the engineering, procurement, fabrication, and installation of two offshore natural gas compression complexes aimed at sustaining the production of the North Field, including two of the largest fixed steel jacket compression platforms ever built, flare platforms, interconnecting bridges, living quarters and interface modules.

“To execute this project, Saipem will leverage on its own assets, know-how, and competencies on offshore engineering, installation and fabrication, as well as its capability to maximize local content,” Saipem said.

“This prestigious award represents the largest single offshore contract by total value in the company’s history. It follows the award in early 2021 related to offshore facilities for extraction and transportation of natural gas for the same field and demonstrates the continuity and the quality of Saipem’s performance in Qatar,” Saipem said.